Switzerland Disconnects from the Euro

After several years of the value of the Swiss franc being capped against the euro, “The euro lost nearly 20 percent of its value against the Swiss franc on Thursday [January 15] after the central bank abandoned the cap on the franc’s value against the single currency” (EU Observer, January 15, 2015). “The value of the Swiss franc increased by around 30 percent in the hours following the announcement… The euro also fell to new lows against the dollar and sterling. ‘The euro has depreciated substantially against the US dollar and this, in turn, has caused the Swiss franc to weaken against the US dollar,’ said Thomas Jordan, the chairman of the Swiss National Bank. ‘In these circumstances, the SNB has concluded that enforcing and maintaining the minimum exchange rate for the Swiss franc against the euro is no longer justified,’ he added” (ibid.). 

Switzerland’s disconnection from the euro clearly indicates its distrust of the common currency of Europe. Although the increasing value of the Swiss franc will likely hurt trade between Switzerland and the Eurozone nations, the comparative increasing financial stability of the Swiss will no doubt be seen in a negative light among that group. Switzerland is also an Israelite-descended nation and it will be no surprise if it finds itself ostracized by central EU nations (like Germany) as time goes on.

For more information on the plight of Israelite-descended nations like Switzerland, be sure to read The United States and Great Britain in Prophecy.