ZURICH Dec 21 The Swiss government threw its
weight behind the Swiss National Bank's monetary policy on
Wednesday amid criticism from members of parliament after the
central bank removed a cap on the value of the Swiss franc
against the euro nearly two years ago.
"The SNB's monetary policy concept has proved its worth also
in difficult situations such as in the wake of the global
financial crisis from 2007 to 2009," a statement after a cabinet
meeting said. The central bank had the tools it needed to
fulfill its mandate.
"Particular attention was paid to the issue of SNB
governance. The Federal Council considers the SNB's existing
legal basis to be appropriate and sees no need to change it."
(Reporting by Michael Shields, editing by John Revill)