– Cash must be enshrined in the Swiss Constitution
The Federal Council is proposing a constitutional counter-proposal at the initiative of the Swiss Freedom Movement, to protect the national currency and cash.
Published: 06/26/2024, 10:46 a.m.
The Federal Council recognizes the importance, for the economy and society, of the role played by cash.
KEYSTONE/Michael Buholzer
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The maintenance of cash must be enshrined in the Constitution, as must the Swiss franc as the national currency. The Federal Council sent its counter-proposal to Parliament on Wednesday, initiated by the Swiss Freedom Movement (MLS).
The popular initiative “Yes to a free and independent Swiss currency in the form of coins or notes” wants to guarantee the maintenance of cash in Switzerland. It also requires that any project to replace the Swiss franc with another currency must be submitted to a vote by the people and the cantons.
The Federal Council recognizes the importance, for the economy and society, of the role played by cash, indicates a press release. Currently, the supply of cash and the use of the Swiss franc as the national currency are guaranteed by law.
The government says it is ready to strengthen these principles by enshrining them in the Constitution. Considering the initiative imprecise, he therefore proposed that Parliament reject it and instead adopt this direct counter-proposal.
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