The surprise decision of the Swiss National Bank to discontinue the minimum exchange rate of CHF 1.20 per Euro poses major challenges to Switzerland‘s largest export industry Chemistry Pharma Biotech.
Although the extent of the strengthening of the Swiss franc against other major currencies is still uncertain, the measure will without any doubt have a negative impact on the price competitiveness of our exports. Not only will this dim the growth prospects, but it may also lead to structural adjustments in the companies of our industry.
We hope the Swiss National Bank will prevent an excessive strengthening of the Swiss franc. Against this new background, additional burdens on the economy in the form of new regulation projects, such as for example the Energy Strategy 2050, should be avoided by all means.