The deadline of 20 years to exchange recalled banknotes should be abolished, the Federal Council suggested on Wednesday.
The current system, which was introduced in 1921, operates under the assumption that discontinued notes which are not returned to the bank within the exchange deadline have either been lost or damaged.
In a proposal to parliament, the Federal Council suggests that this rule is no longer in keeping with the reality of modern life. Life expectancy and the population’s mobility has increased dramatically in recent years, the government wrote in a statement. Abolishing the conversion deadline would prevent people from suddenly owning money that has become worthless.
The Federal Council also said that the change would not increase the risk of crime. The rule that banknotes cannot be used as payments six months after they are recalled would remain the same. After this period, they would need to be exchanged at a Swiss National Bank counter where their authenticity and origin will be established, it said in the statement.
Other internationally significant and globally-traded currencies such as the British pound sterling, the euro and the US dollar can already be exchanged for an unlimited amount of time.
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The Federal Council wants to examine a security and defence partnership with the EU. Exploratory talks are to begin as soon as possible. Among other things, the partnership would be used for defence procurement.
Swiss trial shows organic farming is 85% as productive as conventional agriculture
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This is shown by the results of a globally unique open-air trial that has been running for 47 years in Therwil in the canton of Basel-Landschaft.
Nestlé fined by Swiss canton for illegally filtered water
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Nestlé has been fined CHF 500,000 in the canton of Vaud for the unauthorised use of activated carbon filters in the production of mineral water. The filters were used to produce Henniez water from 2008 to 2022.
Swiss government proposes restrictions on Ukrainian refugees
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Only those whose life and limb are at risk in Ukraine and who flee to Switzerland are to be granted S status in future. The remaining Ukrainian refugees should apply for asylum. This is what the Federal Council is proposing.
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The Fribourg parliament approved a sum of CHF6.4 million to renovate the ramparts, the walkway and the towers, as well as to replace the exterior lighting.
Swiss rental housing listings increase for the first time in three years
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For the first time in three years, the number of advertisements for rental accommodation is on the rise, but this does not dampen demand, quite the contrary. In Ticino, the average duration of an advertisement published on the main portals is 30 days.
Switzerland doing relatively well when it comes to child vaccination rates
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Progress in child immunisation has stalled. For decades, the number of children vaccinated against measles, polio and other diseases has risen. But since 2010, vaccination rates have stagnated in many countries, according to a study.
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If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.