Swiss President: Switzerland To Keep Supporting The Euro

BERLIN (MNI) – Switzerland will continue to support the single
European currency, Swiss President Micheline Calmy-Rey said at a press
conference after a meeting with German Chancellor Angela Merkel here.

As an export nation Switzerland is carefully monitoring the
development of the Eurozone’s sovereign debt crisis, Calmy-Rey
explained.

“I could assure [Chancellor Merkel] in our talks that Switzerland
is making a contribution to support the euro and the stability of the
Eurozone,” the president said.

“The Swiss National Bank has engaged itself for the stability of
the euro by buying dozens of billions of euros,” Calmy-Rey pointed out.
“Approximately 70% of our reserves are now in euro,” she remarked.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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