In 1999 Thomas Jordan wrote why Switzerland should never peg to the euro. The main reason was that interest rates and borrowing rates would go up and would eliminate the competitive advantage of Swiss firms. The text is in German.
(if the file does not show up in the PDF viewer, here the direct link)
Our core thesis is in line with Jordan’s 1999 view:
In the following post we explain that the Swiss financing of the European bubbles and the artificially weak franc until 2008 were the reasons why Jordan had to change his mind:
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