SNB's Jordan: recession unavoidable
A recession appears unavoidable for the Swiss economy in 2009, said Thomas Jordan, a member of the governing board of the Swiss National Bank.
Jordan said that the domestic economy leaned heavily on its export and financial sector, and so faced a difficult year. He said that the extent and risks of the current crisis necessitated additional fiscal stabilisation measures.
However, he also said that the Swiss economy had many structural strengths and so was confident that the country would
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