by Andreas Keiser, swissinfo.ch
They pay their taxes in euros however buy groceries with francs – the inhabitants of Büsingen, a German enclave close to Schaffhausen, are being doubly hit by the sturdy franc.
This leafy village of 1,400 on the banks of the River Rhine is having fun with a late-summer’s afternoon. A gaggle of day-trippers are sitting by the open-air pool. Sausages, bread and beer – all from Switzerland – are ordered in Swiss German and paid for with francs.
But for the residents of Büsingen, which belongs to Germany however is surrounded by Switzerland, the record-strong Swiss franc is producing much more warmth than the summer time solar.
One pensioner mutters to his buddy that he’s heard the mountain railway in Davos is feeling the pinch due to the sturdy franc – “if this continues, the Germans will not be capable of go on vacation in Switzerland”.
However the forex markets are having an impact nearer to dwelling than the railways of Davos: the 2 pensioners receives a commission in euros, and on account of the euro disaster their buying energy has been diminished. Not solely on a regular basis objects but additionally their hire is paid in francs.
“The euro’s lack of worth would be the finish of us,” they are saying and order one other beer.
Learn the remainder of this entry : hyperlink