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Switzerland: Economy expected to grow by 1.3% in 2013

FXstreet.com (Barcelona) - According to the Economic Forecasts released on a quarterly basis by the Swiss State Secretariat for Economic Affairs, the Swiss economy will most probably grow by 1.3% in 2013 and it should accelerate to 2.1% the next year, as the domestic economy remains stable and the export outlook is improving.

However, the ongoing Eurozone debt crisis poses some downside risks and “the confidence which has returned to the financial markets needs to be boosted further still in order to create the basis for long-term growth in the Euro zone.”

Forex: EUR/USD hovering over 1.2900 after Cyprus

The single currency opened sharply lower on Monday after the bailout in Cyprus spooked market participants and intensified the fears surrounding depositors’ funds...
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Asian markets fall on Cyprus bailout measures

The headlight of the weekend was the EU €17B bailout decision for Cyprus that will be partly funded by a one-off levy on bank deposits (9.9% for deposits over €100k and 6.75% for deposits less than 100k, raising €5.8b). Such measures will go for a vote today at the Cypriot parliament.
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