Brexit poses ‘biggest risk’ to Swiss exporters

A British vote to leave the European Union on June 23 could lead to serious negative consequences for Swiss exporters, according to a government agency that promotes Swiss business abroad. Switzerland Global Enterprise (s-ge) chief executive Daniel Küng said a Brexit is the number one concern for the health of Swiss exports in the near future. It would be a “hammer blow” for struggling companies that have seen margins eaten away by the strengthening franc. Swiss goods have become 10% more expensive for eurozone customers since the Swiss National Bank (SNB) gave up defending the euro-franc exchange rate in January 2015. Given the continued fragile state of the political and economic environment within European Union, the euro would likely plunge if Britain leaves the bloc, Küng said on the fringes of s-ge’s annual conference in Zurich on Thursday. “The polls point to a real possibility that a Brexit might take place,” Küng told swissinfo.ch. “If that happens, it ...