Second cash initiative launched

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The Swiss Freedom Movement (FBS) is campaigning for money with a second citizens’ initiative. On Tuesday, the Federal Chancellery gave the green light to collect signatures. The deadline is September 21, 2024.

The initiative “Those who want to pay in cash must be able to pay in cash!” wants to supplement Article 99 of the Federal Constitution on monetary and exchange rate policy. For example, the federal government should ensure that in public transport, in retail or in other points of sale “payment can be made at sufficient cash registers with coins or banknotes”.

In addition, the federal government must guarantee that coins or banknotes do not have less purchasing power than electronic currency or bank money and are not disadvantaged compared to more modern means of payment. In cities there should be an ATM every two kilometers. In small towns, you must be reachable within 15 minutes by car or public transport.

The first cash initiative has already taken place

Nearly two months ago, the FBS announced that their first money initiative had come about. The initiative “Yes to an independent, free Swiss currency with coins or banknotes (cash is freedom)” also aims to supplement Article 99 of the Federal Constitution.

The federal government must ensure “that coins or notes are always available in sufficient quantities”. In addition, the replacement of the Swiss franc by another currency must be put to the vote of the people and the cantons.

Today, monetary and currency matters are a matter for the Confederation and the Swiss National Bank (SNB). There are no known concrete political attempts to abolish cash.

According to an SNB survey, in 2017 about 70 percent of all recorded transactions were made in cash. The over-55s in particular mainly use cash as a means of payment and a store of value. The debit card is the most widely used means of payment in Switzerland, followed by cash, which is usually used for smaller amounts. (SDA)

Source:Blick