Federal Council rejects gold initiative
Bern, 20.11.2013 - During its meeting today, the Federal Council adopted the dispatch on the popular initiative "Save our Swiss gold (gold initiative)". It recommends rejecting the initiative without a counterproposal. Acceptance of the initiative would restrict the ability of the Swiss National Bank (SNB) to act. It would make it more difficult for the SNB to pursue a monetary policy that ensures price stability and contributes to stable development of the economy. Furthermore, profit distributions to the Confederation and to the cantons would be adversely affected.