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Swiss vote on whether to introduce 'real money' plan

Reuters  |  ZURICH 

By John RevillZURICH (Reuters) - Swiss voters will learn on Sunday if their country will be the first in the world to introduce a radical new financial system that would bar commercial banks creating money each time they made a loan.Polls were due to close around 1100 GMT in the nationwide referendum on the Sovereign Money initiative, known as Vollgeld or "real money" in German, with a result expected around 1500 GMT.The initiative, called under Switzerland's system of direct democracy after gathering more than 100,000 votes, wants to make the Swiss National Bank (SNB) the only authority in ...

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First Published: Sun, June 10 2018. 14:45 IST