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What will be the long term impact of the newly defined minimum exchange rate target from francs to euro?
The Swiss franc has appreciated quite a bit recently against the Euro as the European Central Bank (ECB) continues to print money to buy government bonds issues by Greek, Portugal, Spain and now Italy.  Some euro holders have flocked to the Swiss franc in an effort to preserve the savings from the massive Euro money printing.  This has increased the value of the Swiss franc.  In response, the Swiss National Bank (SNB) has tried to intervene multiple times in the currency market to keep the value of the Swiss franc low.  It does this by printing Swiss francs and using the newly printed francs to buy Euros.  The SNB interventions have failed to suppress the Swiss franc and its value has continued to rise.  The SNB has finally said they will print whatever it takes to maintain a desired peg to the Euro.  This had the desired effect of driving down the value of the franc. Which effect will this have long term for the euro zone? It is now clear that all major central bankers are in a currency devaluation war in which they are all trying to outprint each other.  The SNB was the last central bank to join the printing party.  I think this will lead to major inflation in all currencies as we have not seen the end of money printing.  Will this worsen the European financial crisis or is this not an important factor? I'm not sure this will have much affect on the ongoing European crisis since most of the European government debt is in euros. Should this announcement trigger any actions from common European people concerning their wealth? If a European is concerned with preserving their wealth I would think they would begin to start diverting some of their savings into a harder currency.  Europeans have experienced rapidly depreciating currencies more than people on any other continent.  I would think they would be the most experienced at preserving wealth from central bank shenanigans.