FX.co ★ Switzerland's success story

The crisis has had a dramatic impact on the world's economy. It was the European Union that suffered from the consequences the most. However, one country managed not only to escape the worst, but also to maintain the pace of growth of the major economic indicators. It is Switzerland. This nation could even give some lessons in stability preservation. Switzerland is still receiving the AAA sovereign credit rating from Moody's, and the analysts of the agency forecast further steadiness of this Alpine state's economy. That tendency is confirmed by the GDP, stable national currency rate, sustainable revenue budget, slowest inflation in Europe and low unemployment rate. Moreover, its economy is supported by the 57% domestic demand increase and the 10% net exports growth. The secret of Switzerland's success is quite simple: the political factor and discipline in all the economic sectors. Furthermore, the permanence of the Swiss franc is guaranteed by the minimum exchange rate target of 1.2 to the euro, which was set by the central bank in 2011. The century-old system of cantonal independence, quarterly national referendums, and the high people's confidence in the authorities – all that has helped the country to outlast the stagnation during the Continent's economic downturn.