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Small is beautiful ?. La souveraineté monétaire de la Suisse en question

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  • Jean-François Ponsot
  • Guillaume Vallet

Abstract

Since the beginning of the current crisis which has started in 2007, the Swiss franc has strongly appreciated against the main international currencies. This is very noticeable against the euro. It is difficult to evaluate the consequences for the economy. On the one hand, some sectors do not suffer of such an appreciation. But on the other hand, others face problems, which has forced the Swiss National Bank (SNB) to set up an official unilateral peg to the euro in September 2011. Hence the aim of this paper is to question the sovereignty of a small multicultural country like Switzerland, because it faced during its history many constraints which have prevented the monetary policy from being free. Thanks to contemporary and historic data, we shall investigate the concept of monetary sovereignty as well as the theory of money?s legitimacy and confidence.

Suggested Citation

  • Jean-François Ponsot & Guillaume Vallet, 2013. "Small is beautiful ?. La souveraineté monétaire de la Suisse en question," Revue française de socio-Economie, La découverte, vol. 0(2), pages 27-50.
    • Handle: RePEc:cai:rfsdec:rfse_012_0027
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