Federal Council wants to protect cash

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The popular initiative “Money is freedom”, submitted by the “Liberal Movement Switzerland” (FBS) in mid-February, demands, among other things, that “sufficient coins or banknotes are always available in Switzerland”. In addition, the people and the cantons should be able to vote if the Swiss franc is replaced by another currency.

The FBS says it received support from EDU Switzerland, the Swiss Democrats, opponents of the corona measures and critics of 5G mobile communication, among others. The FBS also launched a federal popular initiative against mandatory vaccination.

The Swiss government now recognizes the “important importance of cash to the economy and society”, as announced on Wednesday. Safeguarding the money supply is enshrined in Article 5 of the National Banking Law. It says that the National Bank “guarantees the delivery of cash”.

Next initiative in the planning

However, the Federal Council is willing to “elevate this certainty from legal to constitutional level” to underline its importance, as he writes – as a direct counter-proposal to the “Cash is Freedom” initiative. The initiative itself is “not precise enough” for the Federal Council.

Anchoring an existing law at the constitutional level has the advantage that “an established interpretation and practice of the provisions already exists, which is confirmed and reinforced by the new constitutional provision”, the state government argues.

The FBS has already launched another money initiative. She demands that, for example, public transport and retail can always be paid in cash. (she)

Source:Blick