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Money vote set to fail on Sunday

National News // June 8, 2018

Voters will be going to the polls on Sunday to decide if the country should adopt a revolutionary financial system.

pixabay Money vote set to fail on Sunday

The proposal is called the ‘Sovereign Money Initiative’ and says the only bank that will be allowed to issue money – cash and book money – should be the Swiss National Bank.

The move would prevent banks from issuing loans.

Backers of the initiative say it would prevent a repeat of the financial crises in 2008.

But the government – and many economists – disagree. The system has not been tried in any other country.

The latest polls suggest it will fail.

Tags: vote, snb, bern, money

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