Federal Council adopts dispatch on Vollgeld initiative
Bern, 9.11.2016 - During its meeting on 9 November 2016, the Federal Council adopted the dispatch on the popular initiative "For crisis-resistant money: end fractional-reserve banking (Vollgeld initiative)". It recommends rejecting the initiative without a counterproposal. The initiative is calling for a complete transformation of the current monetary system. If the initiative were to be accepted, Switzerland would become a guinea pig for untested reforms. Acceptance would complicate the Swiss National Bank's monetary policy and lead to considerable risks for the Swiss economy.