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Tages-Anzeiger - Switzerland | Monday, January 19, 2015

Strong franc may reduce immigration

The fact that the Swiss franc's exchange rate is no longer pegged to the euro will reduce immigration to Switzerland, according to the left-liberal daily Tages-Anzeiger. This could do as much to fulfil the demands of the right-wing conservative Swiss People's Party (SVP) as the targets of the controversial referendum against mass immigration (MEI) or the rejected initiative launched by the Ecopop organisation, the paper surmises: "SVP politician Christoph Blocher was accordingly unperturbed, not to say delighted, by the central bank's decision. It will give him the justification he needs not to insist on the literal implementation of the MEI targets yet at the same time not break his promise to his voter base. ... But the scenarios presented by the initiators of MEI and Ecopop are not as tempting as they seem. Apart from the negative political signal they send, employers and employees are facing hard times here in Switzerland. The number of jobs will rise less than expected at the start of the year, if at all. And it will be involuntary because dictated by the markets."

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