- Title: SWISS-VOTE/GOVERNMENT REAX Swiss government happy with referendum results
- Date: 30th November 2014
- Summary: BERN, SWITZERLAND (NOVEMBER 30, 2014) (REUTERS) FEDERAL COUNCILOR EVELINE WIDMER-SCHLUMPF AND FEDERAL COUNCILOR AND VICE-PRESIDENT OF THE FEDERAL GOVERNMENT SIMONETTA SOMMARUGA ENTERING NEWS CONFERENCE (SOUNDBITE) (English) FEDERAL COUNCILOR AND VICE-PRESIDENT OF THE FEDERAL GOVERNMENT SIMONETTA SOMMARUGA SAYING: "Well, the Federal Council is glad by the result of today because it's very clear that the population says 'no' to this initiative, this initiative which wanted to resolve environmental problems, but it's evident that it couldn't resolve these kind of problems, so the result today is very clear." NEWS CONFERENCE (SOUNDBITE) (French) FEDERAL COUNCILOR EVELINE WIDMER-SCHLUMPF SAYING: "By rejecting today the introduction of fixed prescriptions regarding gold reserves, the majority of voters refused to considerably restrain the Swiss National Bank's capacity of action. As an independent institution, the Swiss National Bank has the required flexibility to ensure its mission of ensuring price stability, while contributing to the harmonious development of the economy. The Swiss National Bank is then free to pursue its minimal change rate policy." MEDIA
- Embargoed: 15th December 2014 12:00
- Keywords:
- Location: Switzerland
- Country: Switzerland
- Topics: General
- Reuters ID: LVABOAH7WCXYJC7IG1E1WJQ6TK5T
- Story Text: The Swiss government on Sunday (November 30) expressed its satisfaction after voters overwhelming rejected proposals to boost gold reserves and impose strict new curbs on immigration.
One of the referenda dubbed the 'Ecopop' initiate, asked voters to decide whether to cut annual immigration by three-quarters from current levels, with the aim of reducing the strain that high levels of immigration have put on Switzerland's natural resources.
The measures reflect a growing feeling that Switzerland is under siege from foreign workers eroding its Alpine culture and trading partners who have insisted in recent years that the Swiss dismantle their business model based on banking secrecy.
Federal Councilor and Vice-President of the Federal Council Simonetta Sommaruga who campaigned against the immigration initiative said the government is relieved at the outcome.
"The Federal Council is glad by the result of today because it's very clear that the population says "no" to this initiative which wanted to resolve environmental problems, but it's evident that it couldn't resolve these kind of problems," said Sommaruga.
Had it been accepted, the initiative would have torpedoed the Swiss government's efforts to salvage its treaties with the European Union, its biggest trading partner.
Swiss voters also rejected another referendum known as "The Gold initiative", called by the right-wing Swiss people's Party (SVP) that would have forced the central bank to hold at least 20% of its assets in gold.
The proposal, which was born out of concern that the central bank has sold too much of its gold in the past, was rejected by 77 percent of voters, said Swiss broadcaster SRF.
"The majority of voters refused to considerably restrain the Swiss National Bank's capacity of action. As an independent institution, the Swiss National Bank has the required flexibility to ensure its mission of ensuring price stability, while contributing to the harmonious development of the economy. The Swiss National Bank is then free to pursue its minimal change rate policy," said Federal Councilor Eveline Widmer-Schlumpf.
A third set of proposals to scrap one of Switzerland's biggest tax perks for expatriates was also defeated.
Switzerland's system of direct democracy gives citizens the right to force popular votes if they can gather enough signatures of support. - Copyright Holder: REUTERS
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