German Finance Minister Wolfgang Schäuble stated that Switzerland’s surprise decision to terminate the policy whereas the Swiss Franc equated to 1.2 euros was a “special case” which will not have any long-term effects to the unified European currency.

“Switzerland is a special case”, he stated during his visit to India. “It is not something that will have long-term negative effects, especially towards the euro. It shows that you cannot move against the markets in the long-term”.

The Swiss bank’s decision to end the three-year policy of connecting the Swiss Franc to the Euro, launched the Swiss coin in view of the upcoming adoption of measures this week by the ECB to reinforce economic activity in the Eurozone.