The recent, abrupt pull-back by the Swiss National Bank, allowing the Swiss franc to float freely (and appreciate most dramatically) -- see, for example, Edward Harrison at Foreign Policy on What the Wild Swiss Franc Appreciation Really Means -- has ripple effects far and wide (including in a lot of eastern European countries, where way too many folks somehow got themselves talked into franc-denominated mortgages ...).
Much of Switzerland's economy is, of course, affected -- including the publishing industry. As Jürg Altwegg reports in the Frankfurter Allgemeine Zeitung, Der Schweizer Buchmarkt schwächelt. Local German-language publishers enjoy most of their sales abroad (Diogenes and Kein & Aber: about ninety per cent, he writes), and that suddenly doesn't work out to nearly as much profit domestically. Worse: Swiss book buyers now have even more of an incentive to purchase via Amazon Germany, paying the euro price (and avoiding any import-duty if they don't buy too much at one time) -- a disaster for local booksellers.
Canada has faced similar issues in recent years, when the loonie was strong, but the current Swiss situation seems considerably more extreme.
Much of Switzerland's economy is, of course, affected -- including the publishing industry. As Jürg Altwegg reports in the Frankfurter Allgemeine Zeitung, Der Schweizer Buchmarkt schwächelt. Local German-language publishers enjoy most of their sales abroad (Diogenes and Kein & Aber: about ninety per cent, he writes), and that suddenly doesn't work out to nearly as much profit domestically. Worse: Swiss book buyers now have even more of an incentive to purchase via Amazon Germany, paying the euro price (and avoiding any import-duty if they don't buy too much at one time) -- a disaster for local booksellers.
Canada has faced similar issues in recent years, when the loonie was strong, but the current Swiss situation seems considerably more extreme.