The Swiss National Bank said it is pumping more Swiss francs into the market to combat the currency’s “massive overvaluation” against the US dollar and the euro.

THE blacklisting of Irish bonds for use as collateral by the Swiss Central Bank “has no serious funding implications for Ireland, said Alan McQuaid, chief economist, Bloxham Stockbrokers.

IRISH government bonds have been rejected as a form of collateral by the Swiss central bank.

Shares tumbled today as US investors reacted to a stunning reshaping of the landscape of Wall Street.