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Switzerland's Industrialized Economy
Beginning of Essay
Switzerland’s has a developed industrialized economy, and has one of the highest standards of living. It is a major financial center of the world, and is known for it’s stable Swiss banks. Switzerland is known for it’s traditional secrecy regarding bankin .... Middle of Essay
.... On an annual average, inflation rose from 3.2 percent to 5.4 percent, which is worrisome because Switzerland is considered a low-inflation economy. On June 2, 1991 Swiss voters rejected a government sponsored tax which would have modernized Switzerland’s tax system by a tax called Value Added Tax. The Swiss currency is called the Swiss Franc, and 1.5 francs equal one U.S. dollar.
The new common currency adopted early this year called the Euro, was rejected by Switzerland, although eleven nations participated. Therefore, Switzerland preserves its’ monetary autonomy. The lack of participation has both advantages and disadvantages. An advantage is ....
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Words: 639 - Pages: 3
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