SNB Gold Vote Is ‘Dangerous,’ Jordan Says in Sermon on Hill
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Swiss National Bank President Thomas Jordan took to a church pulpit to warn voters that passing an initiative requiring the central bank to hold a fixed portion of its assets in gold risked harming the economy.
“The initiative is dangerous because it would weaken the SNB,” he said yesterday, speaking at a location on a historic hill in the town of Uster, Switzerland. It “would make it considerably harder for us to intervene with determination in a crisis situation and fulfill our stability mandate,” he said.