“Our policy is crystal clear. We have introduced a cap against the euro and we will defend this with all means,” Thomas Jordan said following a speech in Basel.
“It’s the case that this limit is very, very credible,” he also said.
“And we also expect to be able to maintain this level.”
The SNB said on Sept. 6 that it would not allow the franc to appreciate past 1.20 per euro and would use unlimited currency interventions if necessary.
When asked about the chance of the euro zone debt crisis getting worse and what its effect on Switzerland would be, Jordan said: “I think we can agree that Europe has problems at the moment and it’s absolutely critical that decision-makers take responsibility and enact the necessary steps,” he said.
“But we’re far from having a situation where the euro splits apart or would have to be exchanged for a new currency.”
