The strongman of the rightwing Swiss People’s Party has again called for the resignation of the chief of the Swiss National Bank over an alleged currency scandal.
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Christoph Blocher reiterated allegations of insider trading against Philipp Hildebrand, describing him as a “speculator” no longer tenable as chairman of the central bank.
Blocher hinted that several informers at several banks had information about private financial activities by leading figures of the National Bank. He did not elaborate.
In an apparent u-turn, Blocher on Friday denied he had presented the government original banking documents compromising Hildebrand.
However, a government spokesman confirmed that Blocher, a vocal critic of Hildebrand’s monetary policy, had shown a copy of an account statement naming the top banker during a meeting with the Swiss president last month.
Hildebrand, who has the backing of the government, on Thursday denied breaking regulations and rejected calls to resign, but he admitted an error of judgment about private financial transactions.
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National bank chief convinces Swiss newspapers
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But they demanded clarifications to unanswered questions, a day after Hildebrand dismissed suggestions he should resign, saying his only mistake was to let his American wife conduct a particularly sensitive transaction from their joint account. The Neue Zürcher Zeitung (NZZ) said Hildebrand had to “at least try to provide evidence [that he’s] beyond all suspicion…
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He said he had no plans to resign and accused opponents of trying to exploit false allegations for political ends. Breaking his silence to counter a national uproar on Thursday, Hildebrand said he had acted according to the central bank’s internal rules in the United States dollar swaps, which came as he was spearheading efforts…
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The Hildebrand affair has so far failed to undermine the central bank’s defence of the SFr1.20 euro exchange rate ceiling, while observers doubt that the ongoing row will dent the SNB’s operational credibility. The credibility of central banks is key to their efficiency at maintaining price stability and – as is the current case of…
You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.