Switzerland votes on March 8 to protect cash in the Constitution

2026-02-13 23:39:29Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Switzerland votes on March 8 to protect cash in the Constitution
Switzerland votes on March 8 to protect cash in the Constitution

A broad debate is underway in Switzerland over the future of physical money. On March 8, citizens will vote on whether to approve a constitutional reform that aims to legally guarantee the availability of cash in the country.

The initiative, titled "Yes to an independent and free Swiss currency with coins or banknotes," is promoted by the Movimento svizzero per la libertà, a movement that became known during the COVID-19 pandemic for its anti-vaccination stances.

The aim of the proposal is to avoid the gradual disappearance of physical cash, at a time when electronic payments are gaining ground. In addition to bank cards, the Twint application is also widely used in the country, which allows payments via QR code directly from a mobile phone.

According to a survey published by the Swiss National Bank, 95% of the population still uses cash. There are an average of 73 billion Swiss francs in circulation. However, 70% of payments are now made electronically. Meanwhile, more than half of citizens would like to see the 5-cent coins, which they consider annoying, removed from use.

In the city of Lugano, authorities also allow the payment of taxes with cryptocurrencies, reflecting openness to new financial technologies.

Supporters of the initiative argue that physical money remains necessary, especially in cases of cyberattacks on banks or the reduction of ATMs and bank counters for reasons of savings. According to them, the Swiss franc is considered a safe asset, along with gold and real estate.

The movement also demands that any possible switch to another currency, although currently remote, be approved only through a popular referendum.


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