Swiss economy shrinks

The Swiss economy unexpectedly shrank in the second quarter as the euro zone crisis caught up with a country that had seemed relatively immune to its neighbors’ woes, providing further justification for the central bank’s cap on the strong franc.

The surprise 0.1 percent contraction mirrors emerging evidence in Sweden, another euro outsider whose currency is attracting unwelcome strength, that the euro bloc’s problems are beginning to hurt previously resilient neighbors…

via Swiss economy shrinks under euro crisis pressure | Reuters.