SNB's Roth on life in a two-headed monetary system

In a speech on 'Life in a two-headed monetary system: The Swiss experience' given on 29 November, Jean-Pierre Roth of the Swiss National Bank said the birth of the euro has fundamentally changed the shape of the international monetary system with the euro now representing a credible alternative to the dollar.

"It provides the counterweight to the U.S. currency that was missing in the past. This greatly benefits third currencies, such as the Swiss franc. Previously, in case of dollar weaknesses

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