Switzerland votes down 'Vollgeld' initiative
CGTN

Swiss voters Sunday rejected a radical plan to overhaul the financial system by stripping commercial banks of the power to create money through lending, Swiss broadcaster SRF has reported.

The movement calling for sovereign money, or Vollgeld in German, failed to secure a majority of Switzerland’s 26 cantons or a simple majority of voters.

Read More: Switzerland poised to vote on radical ‘Vollgeld’