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Swiss Vote Places Right To Use Cash In Country's Constitution
8 Articles
8 Articles
Switzerland voted in a referendum to enshrine cash in the country's Constitution with 73.4% of popular support. The Swiss rejected a first proposal drafted by the Swiss Freedom Movement, but accepted the counter-proposal of the Federal Council. Thus, the inhabitants of this country are shielded against the possible future disappearance of cash. The elimination of cash is rejected by many social and economic groups because, among other issues, it…
The counter-draft of the cash initiative was adopted by the Swiss voters with 73.4 percent of the votes.
Milanović cited examples of more mature societies, such as Germany, Austria and some Scandinavian countries, which retain the right to use cash.
Swiss Vote Places Right To Use Cash In Country's Constitution
Swiss voters overwhelmingly approved a constitutional amendment guaranteeing the right to use physical cash. "The vote means Switzerland will join the likes of Hungary, Slovakia and Slovenia, which have already written the right to cold, hard cash in their constitutions," reports Politico. From the ...
A clear majority of the voters want to anchor the franc in the constitution. On Sunday the voters and the cantons accepted the counter-draft to the cash initiative. The sovereign wanted nothing to know about the initiative.
At the end of the vote on 8 March, the supply of cash will be anchored in the Constitution. However, the vote with a high symbolic value did not have any impact on the daily lives of Swiss and financial institutions.It was a special campaign with more than one title. The insiders of "The cash is freedom", will not have spent anything to make their voices heard but the final result is there. The Swiss want, by a large majority, to include the gua…
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