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Strong Swiss Franc threatens Sauber's Future
The supercharged nature of Switzerland's currency, the Swiss Franc, is having threatening Sauber's ability to remain on the F1 grid. Given Swiss neutrality to EU legislation (as a non EU member) and a taxation system encouraging corporate domicile, during times of economic turbulence the Swiss Franc is perceived as a safe investment, the impact of which leads to a disproportionately strong currency, which put simply means the value of finance coming into a company such as the Sauber F1 team from sources outside of country has been increasingly diminished. Speaking in the FIA Team Press Conference at the Russian Grand Prix yesterday Team representative Beat Zehinder commented: 'A simple...
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10y ago from JWGrandPrix.com
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