Dollar and Swiss frank on a par

The US dollar and the Swiss franc are now on a par - not necessarily a good thing for the global economy, writes the Berner Zeitung: "The monetary turbulences caused by the weak dollar will not be quick in subsiding. The reasons for the weak dollar have to do with the US's inordinately high level of indebtedness in times of peace. To avoid falling into a depression, the national debt has risen to over twelve percent of the annual GDP. At the same time the Fed flooded the market with cheap money. All experts are aware that this state of things cannot go on indefinitely. However most also agree that it is now too early to raise interest rates or balance the state budget, which would most likely lead to renewed economic collapse. The upshot: the world will have to live with the weak dollar for a while longer."

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