Real money initiative fails after lack of support from cantons: Swiss broadcaster

Young journalists club

News ID: 24185
Publish Date: 17:34 - 10 June 2018
TEHRAN, June 10-A radical plan to upend Switzerland’s financial landscape by barring commercial banks from creating money has been defeated after failing to win a majority of support from the Swiss cantons, Swiss broadcaster SRF said on Sunday.

Real money initiative fails after lack of support from cantons: Swiss broadcasterTEHRAN, Young Journalists Club (YJC) -A radical plan to upend Switzerland’s financial landscape by barring commercial banks from creating money has been defeated after failing to win a majority of support from the Swiss cantons, Swiss broadcaster SRF said on Sunday.

The measure needed to secure a majority of Switzerland’s 26 cantons as well as a simple majority of voters to be successful.

Source:Reuters

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