And meanwhile in Europe, things are going from horrendous to abysmal. The EURCHF just touched on a fresh all time record low, as everyone is now funneling their capital, deposits and assets into Zurich, Geneva and Bern. Hungarian debtors are now writing in pain, as is Phillip Hildebrand as the Swiss export industry is one foot in the grave. All those in the market for a new Patek perpetual calendar will have to wait.