Hildebrand succumbs to pressure and resigns

hildebrand-parl

The governor of the Swiss National Bank (SNB), Philipp Hildebrand, resigned on Monday with immediate effect.

Political pressure had been building on Hildebrand to quit after it was uncovered his wife had profited from US dollar trades she made three weeks before the central bank introduced a limit on the value of the Swiss franc against the euro.

After initially vowing not to step down and asserting his innocence of any abuse of privilege, a brief statement on the central bank's website today

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