Voters on the 8th of March voted to enshrine the right to use cash in the country’s constitution, Politico reports.
The official result showed 73.4% of Swiss voters supported the constitutional amendment. The government had pushed it as an alternative to a similar initiative by the populist group Swiss Freedom Movement. The group’s initiative to protect the use of cash had gathered more than 100,000 signatures and was held in a referendum. However, it only received 46% support in the vote after the government said some of the amendments proposed by the Swiss Freedom Movement went too far.
Karin Keller-Sutter, a member of the Swiss Federal Council, reported the results of the vote on the evening of the 8th of March. The vote means Switzerland will join Hungary, Slovakia and Slovenia, which have already enshrined the right to use cash in their constitutions. As people’s payment habits become increasingly digital, Austrian politicians are also discussing whether to follow suit.
The trend towards less cash payments has fuelled conspiracy theories that governments are trying to control their citizens
by completely abandoning cash. Conspiracy theorists have been fuelled by the European Central Bank’s plans to create a virtual euro extension, prompting the EU’s executive body to propose legislation to strengthen the role of cash across the bloc.
Cash payments have also declined in Switzerland. While more than seven out of ten payments were made in cash in 2017, they will account for only around 30% of total payments by 2024.
The Swiss Freedom Movement has previously campaigned to replace unpopular ministers, ban electronic voting, and protect citizens who choose not to get vaccinated against Covid-19 from professional or social restrictions. None of these initiatives made it to the vote.
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