Switzerland won't escape slowdown: Jordan

Thomas Jordan, a member of the Swiss National Bank's governing board, believes the global economic decline is likely to reach Switzerland, albeit with a lag.

Jordan says the economic slowdown now becoming apparent in Europe could have a considerable impact on the Swiss business cycle by reducing the demand for the country's exports. Moreover, the pessimistic mood in the financial markets is not likely to be conducive to the creation of value in the financial sector.

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