With the recent tensions within the euro area, the Swiss franc appreciated sharply against the euro, playing the role of international safe-haven currency. Although Switzerland is not a member of the European Union (EU), its high degree of de facto integration to it make that such appreciation...

"Part of the Elgar Series on Central Banking and Monetary Policy, this book explores challenges surrounding central banking today. It goes beyond the immediate concerns with monetary policy and focuses instead on the concept of central banking more generally. Chapter authors explore emerging...