June 10, 2018 / 12:20 PM / 4 months ago

Real money initiative fails after lack of support from cantons: Swiss broadcaster

ZURICH (Reuters) - A radical plan to upend Switzerland’s financial landscape by barring commercial banks from creating money has been defeated after failing to win a majority of support from the Swiss cantons, Swiss broadcaster SRF said on Sunday.

The measure needed to secure a majority of Switzerland’s 26 cantons as well as a simple majority of voters to be successful.

Reporting by John Revill; Editing by Keith Weir

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