Just like in Germany and Austria, cash is still important in Switzerland, although its share in transactions has decreased. However, soon the Swiss will have the opportunity to vote on whether to keep banknotes and coins in circulation permanently.
Last week, news emerged that received little attention outside of Switzerland. The media in the UK, USA, France, Germany, and Spain barely covered it.
The Swiss Freedom Movement announced last week that it had collected enough signatures – a total of 111,000 – to hold a referendum on whether to keep cash in Swiss society for future generations. If it passes, the government must ensure that banknotes and coins are always available in sufficient quantities. In addition, the draft bill proposes a vote on whether the government wants to replace the Swiss franc with another currency, possibly referring to the central bank’s digital currency, as reported by Naked Capitalism.
Poster Comment:
We need that here.