Swiss Voters Reject Campaign to Radically Alter Banking System
A member of the sovereign money initiative, a referendum campaign that would abolish traditional bank lending and allow only money created by the Swiss National Bank, offers flyers to travelers at the central railway station in Zurich, Switzerland, May 3, 2018. Reuters/Arnd Wiegmann/File Photo
ZURICH—A radical plan to transform Switzerland’s financial landscape by barring commercial banks from electronically creating money when they lend was resoundingly rejected by Swiss voters on Sunday.
More than three quarters rejected the so-called Sovereign Money initiative, according to the official result released from the Swiss government.
