Word: france
(lookup in dictionary)
(lookup stats)
Dates: during 2010-2019
Sort By: most recent first
(reverse)
...Swiss have a reason to be protective: the financial industry has afforded the small nation an enviably high standard of living, with massive capital inflows propping up its currency (the Swiss franc), making imported goods relatively cheaper. That's why maintaining bank secrecy has effectively been national policy for decades. As a Senate investigator, Blum got a taste of that when he tried to question a European representative for American companies in Switzerland who was suspected of commercial bribery. "I was personally warned by the Swiss ambassador that if I tried to talk with anyone about money hidden in Switzerland...
Certainly the U.S. did not embrace the idea of carry trades being funded by the greenback, because this worked to only further weaken the dollar against major currencies, including the euro, the British pound and the Swiss franc. This made imports more expensive for consumers - at least in theory. (In reality, because of the size of the U.S. market, few importers could risk raising their prices for fear of being pushed...