You may have heard about the Swiss referendum to end fractional reserve lending by Swiss commercial banks. It’s a fascinating development for Austrians and libertarians, and it’s another example of how average Swiss people can use referenda to force both their central legislature and the twenty-six Swiss cantons to consider their proposals, merely by gathering 100,000 signatures within an 18-month period.
Claudio Grass, Managing Director of Global Gold, gave an interesting interview on this topic with the Mises Institute. This is another interesting example for our non-Swiss readers to better understand the political system and culture in Switzerland.
You can listen to this interesting piece by clicking here.