"Euro-Rabatt" is the word of the year

Switzerland has a new word of the year: “Euro-Rabatt”, which refers to the bargains enjoyed by the Swiss thanks to a favourable franc-euro exchange rate.

This content was published on December 1, 2011 - 17:50 and agencies

A five-member German-speaking jury commissioned by the Swiss Broadcasting Corporation chose the 2011 word from among more than 1,000 suggestions.

The winning word, announced on Thursday, is a pithy abbreviation indicating how Swiss consumers profit from comparatively low prices on goods imported from the eurozone.

It is also an expression used by Swiss travelling over the border to snag a few good deals.

However, the Euro-Rabatt has been bad news for Swiss exports and tourism. In September, the Swiss National Bank attempted to soften the impact by setting a minimum exchange rate target of SFr1.20 ($1.32) to the euro.

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