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Jan 9, 2012

Swiss central bank chief quits over wife’s currency deal

BERNE, Jan 9 (Reuters) – Swiss central bank chief
Philipp Hildebrand resigned on Monday in the face of growing
criticism of a controversial currency trade made by his wife in
August.

Hildebrand’s decision to relinquish one of the top 10 central
banking jobs in the world, came as Swiss parliamentarians met to
discuss the scandal, which erupted last week after Sarasin bank
sacked an employee who leaked details of the trade to a
political rival.

Jan 9, 2012

Swiss central bank chief quits over currency deal

BERNE, Jan 9 (Reuters) – Swiss central bank chief
Philipp Hildebrand resigned on Monday in the face of growing
criticism of a controversial currency trade made by his wife in
August.

His resignation came as he prepared to face Swiss
parliamentarians in the aftermath of the scandal, and as the
bank employee sacked for leaking news of the trade was
reportedly committed to a psychiatric clinic after a suicide
attempt.

Jan 9, 2012

SNB chief quits over currency scandal

BERNE (Reuters) – Swiss central bank chief Philipp Hildebrand resigned on Monday in the face of growing criticism of a controversial currency trade made by his wife in August.

His resignation came as he prepared to face Swiss parliamentarians in the aftermath of the scandal, and as the bank employee sacked for leaking news of the trade was reportedly committed to a psychiatric clinic after a suicide attempt.

Jan 9, 2012

SNB chief to face grilling over currency scandal

BERNE (Reuters) – Swiss parliamentarians met on Monday to grill embattled central bank chief Philipp Hildebrand over the controversial currency trade made by his wife three weeks before he imposed a cap on the soaring Swiss franc.

Hildebrand has been fighting allegations of wrongdoing after an employee of the bank used by his family leaked details of the trade to the lawyer of a political adversary from the right-wing Swiss People’s Party (SVP).

Jan 5, 2012

Swiss central bank chief vows will not resign

ZURICH (Reuters) – Switzerland’s embattled top central banker vowed to fight “with all means” accusations of wrongdoing centered on a currency trade made by his wife three weeks before he imposed a cap on the soaring Swiss franc.

Swiss National Bank (SNB) Chairman Philipp Hildebrand told a Swiss news conference he had no plans to quit after an employee of the bank used by his family leaked bank account details to the lawyer of a political adversary.

Jan 5, 2012

Swiss central bank chief faces battle to keep job

ZURICH, Jan 5 (Reuters) – Switzerland’s top central
banker will battle for his future on Thursday as he faces a
grilling over a controversial currency trade made by his wife
three weeks before he oversaw moves to impose a cap on the Swiss
franc.

Swiss National Bank (SNB) Chairman Philipp
Hildebrand will break his silence over the episode at 1500 GMT
after an employee of his family’s bank leaked details of the
trade to the lawyer of a political adversary.

Dec 21, 2011

Swiss MPs want franc cap shift; reject negative rates

ZURICH, Dec 21 (Reuters) – Swiss parliamentarians
renewed their calls for the central bank to weaken the Swiss
franc further and shift its 1.20 per euro cap as a downturn
looms, but voted against laying the groundwork for negative
interest rates in a bid to tame the currency.

In a extraordinary parliamentary session on Wednesday,
deputies from both the left and the right demanded the Swiss
National Bank, whose independence is enshrined in the
constitution, take further action.

Dec 20, 2011

Chemicals help Swiss exports but prices fall

ZURICH, Dec 20 (Reuters) – Sales of watches and
chemicals helped Swiss exports in November but prices fell as
companies tried to stay competitive with a strong franc and
analysts said this could point to further economic slowdown
ahead.

Exports from Switzerland rose by a real 3.8 percent
year-on-year in November to 17.756 billion Swiss francs ($18.96
billion), the Federal Customs Office said on Tuesday. The
overall merchandise trade surplus was 3.001 billion francs.

Dec 19, 2011

Future N.Korean leader attended Swiss school – friends

BERNE/VIENNA (Reuters) – Former pupils of a school in Switzerland believe the young lad who loved playing basketball and watching action movies and was always “good for a laugh” may have been none other than Kim Jong-un, son and anointed successor of the late North Korean leader Kim Jong-il.

Joao Micaelo, who now works as a chef in a Vienna restaurant, told Reuters he was a good friend of a North Korean teenager with a different name when they both attended the German-speaking Steinhoelzli school in Berne from 1998 to 2000.

Dec 19, 2011

Future North Korean leader attended Swiss school: friends

BERNE/VIENNA (Reuters) – Former pupils of a school in Switzerland believe the young lad who loved playing basketball and watching action movies and was always “good for a laugh” may have been none other than Kim Jong-un, son and anointed successor of the late North Korean leader Kim Jong-il.

Joao Micaelo, who now works as a chef in a Vienna restaurant, told Reuters he was a good friend of a North Korean teenager with a different name when they both attended the German-speaking Steinhoelzli school in Berne from 1998 to 2000.