With the SNB’s assets amounting to nearly 90% of Switzerland’s GDP, the reversal raises serious questions about both the limits and repercussions of open-ended QE. And it serves as a chilling reminder of the fundamental fragility of promises like that of ECB President Mario Draghi to do “whatever it takes” to save the euro.
瑞士国民银行的资产接近瑞士GDP的90%，它的“反水”给无期限的量化宽松的界限和作用造成了严重问题。并且这是一次无情的提醒，让人们留心欧洲央行行长德拉吉“不惜一切代价”拯救欧元之类的承诺。