WIR Bank
The WIR Bank, formerly the Swiss Economic Circle (German: "Wirtschaftsring-Genossenschaft"), or WIR, is an independent complementary currency system in Switzerland that serves businesses in hospitality, construction, manufacturing, retail and professional services. WIR issues and manages a private currency, called the WIR Franc, which is used in combination with the Swiss Franc to generate dual-currency transactions.
Switzerland–European Union relations
On 6 September 2011, the Swiss franc effectively became fixed against the euro: the Franc had always floated independently until its currency appreciation became unacceptable during the eurozone debt crisis. The Swiss National Bank set an CHF/EUR peg that involved a minimum exchange rate of 1.20 francs to the euro, with no upper bound in place. The Bank committed to maintaining this exchange rate to ensure stability. The peg was abandoned on 15 January 2015, when renewed upward pressure on the Swiss franc exceeded the Bank's level of tolerance.