Since the Swiss central bank lifted the franc’s peg to the euro in January, there’s been a rush of Swiss consumers into bordering countries — particularly Germany and Italy — to buy goods at now dirt-cheap prices in euro.
Now, things are starting to get crazy, according to the Wall Street Journal: “Around 40% of shoppers at the Lago mall in Constance, Germany, are now Swiss, who can save as much as half of what they would pay at home.”
However, the WSJ also reports that the good times have stopped in at least one respect: the Swiss authorities have banned the popular German pizza arbitrage.
Swiss diners living near the German border ordered so many pizzas from Constance restaurants that German vans sometimes crossed the border carrying as many as 60 pies. Swiss customs officials finally began stopping the vans, said Constance Mayor Uli Burchardt, forcing Swiss customers to go to the border to get their pizzas.
Imagine having to cross into another country to get cheap pizza. It’s a rough time to be Swiss.