Vote According to projections, 73 percent say yes to the cash counter-proposal
The Swiss franc should be enshrined in the constitution. According to a projection by gfs.bern on behalf of SRG, the counter-proposal to the cash initiative will be approved by 73%. The initiative will be rejected by 54%.
08.03.2026, 12:33
08.03.2026, 13:07
SDA
The initiative wanted to enshrine cash and the supply of cash in the constitution. It had struck a nerve with its demand, political scientist Lukas Golder told SRF.
For the Federal Council and parliament, the initiative was a step in the right direction, but it went too far for the government and legislators. The government submitted a counter-proposal to the electorate, which included anchoring the franc in the constitution.
For Golder, the cash bill is symbolic of the voters' support for the government. It is a signal of confidence, said the political scientist, who spoke of a fivefold victory for the Federal Council on Sunday.
Two sentences in the constitution
The counter-proposal provides for two sentences to be added to the existing currency article in the constitution. The constitution should also state that the Swiss franc is the currency of Switzerland. The constitution should also state that the supply of cash in Switzerland is guaranteed.
In addition, the initiative called for the availability of cash in Switzerland to be guaranteed. Accordingly, the Confederation should have ensured that coins and banknotes are always available in sufficient quantities. Furthermore, according to the text of the initiative, the Swiss franc should have been preserved as the only national currency.
If both proposals had been accepted, the run-off question would have been decisive. This scenario has now been ruled out. However, the run-off poll showed a majority of 61% in favor of the counter-proposal.
Initiator announces initiative
The initiative committee had criticized the counter-proposal before the vote. From its point of view, the question arose as to what was meant by cash supply. The proposal by the Federal Council and Parliament would not give the National Bank any regulatory power to force banks to offer their customers cash withdrawals and to maintain a network of branches and ATMs for companies and private individuals.
After the vote, initiator Richard Koller spoke of a victory. A "very big step" had been taken, he told SRF. In addition, Roland Rino Büchel (SVP/SG) plans to submit a parliamentary motion with a view to implementation.
According to National Councillor Beat Flach (GLP/AG), the decision of the electorate will not have any major impact on the country, he said on Swiss television. The counter-proposal, which is likely to be adopted, says what is already in the law.
