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PARIS — Switzerland is faced with a potentially destabilizing tide of capital fleeing the euro crisis, the head of the country's central bank warned Thursday, adding that the monetary authorities were prepared to take action "at any time" to keep the Swiss franc from rising further.
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Strategies that increased postal questionnaire responses were: adding, that is, giving a monetary incentive (RR 1.18; 95% CI 1.09 to 1.28) and higher valued incentives (RR 1.12; 95% CI 1.04 to 1.22).
He added that the International Monetary Fund had forecast growth of up to 2% this year – lower than expected, but higher than the European Union average.
Mr. Stylianides added that the International Monetary Fund, during the negotiations, had even gone so far as to suggest a 40 percent haircut on certain deposits or to freeze deposits for up to five to 10 years.
Mr. Stylianides added that the International Monetary Fund, during the negotiations, had even gone so far as to suggest a 40 percent cut on certain deposits or to freeze deposits for up to five to 10 years.
He added that the separate monetary policy committee (MPC), which sets interest rates, has to take into account the historically high debt levels of Britain's households as it made interest rate decisions.
And the president of the European Central Bank, Jean-Claude Trichet, indicated at a news conference Thursday in Frankfurt that the Fed's move would not force the bank to change its monetary strategy, adding that the current rate at 1 percent was "appropriate".
Britain is set to suffer the worst recession of any advanced nation, the International Monetary Fund said last week, adding that the U.K. economy would shrink by 2.8% in 2009.
"The commission is definitely not higher-paying than the International Monetary Fund or the Organization for Economic Cooperation and Development," he said, adding that the salaries are necessary to attract quality candidates.
Mr. Levin said that the International Monetary Fund had little power to enforce its rules against currency manipulation, adding that the G-20 should take up the issue.
He added that the $8 billion International Monetary Fund rescue package in August should enable Argentina to avert default until at least the second quarter of 2002.
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