Cash will be guaranteed by the Swiss constitution

Cash will be guaranteed in the Constitution Keystone-SDA

On Tuesday, the Swiss Senate has followed the House of Representatives and unanimously approved the government's direct counter-proposal to the popular initiative of the Swiss Freedom Movement (MLS). The constitution will be amended accordingly.

The “Yes to a free and independent Swiss currency in the form of coins and banknotes” initiative aims to ensure that cash remains in Switzerland. It also demands that any plan to replace the Swiss franc with another currency be submitted to a vote of the people and the cantons.

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These principles should be enshrined in the constitution. According to the MLS, this will ensure that cash remains in Switzerland, which would otherwise be in jeopardy.

The government rejected the initiative but opted for a counter-proposal. It plans to enshrine in the constitution the guarantee of cash supplies and the use of the franc as the national currency. These principles are already guaranteed in legislation. But by enshrining them in the constitution, it is responding to the initiative.

Adapted from French by DeepL/ac

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