Lecture
This lecture covers the appreciation of the Swiss Franc (CHF) due to global financial crises, the impact on the Euro area, and the liquidity trap. It discusses the Swiss National Bank's foreign reserves, Draghi's 'Whatever it takes' speech, and the discontinuation of the exchange rate floor. The concept of liquidity trap is explained, along with its implications on monetary policy. The lecture also delves into long-term government bond yields, interest rates, inflation, and the theory of Optimum Currency Areas in the context of the Eurozone.