Sovereign money a ‘risky experiment’ says SNB’s Jordan
Sovereign money initiative looking to strip banks of ability to create money
The introduction of "sovereign money" in Switzerland would be a "risky experiment", the chairman of the central bank's governing board, Thomas Jordan, said today (December 10).
An initiative seeking to strip banks of the power to create money has attracted more than 100,000 signatures – meaning their proposals can be put forward for a popular referendum.
If the initiative were to be adopted, then only the Swiss National Bank (SNB) would be able to create money. Banks would only be able to lend
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