76 percent rejected the

76 percent rejected the Sovereign Money Initiative which would have put the Swiss National Bank in charge of all money creation and radically altered the banking system, Swiss broadcaster SRF reported after the polls closed. The Swiss government and the SNB opposed the initiative.Potential risks to the Swiss economy by introducing a "Vollgeld" system convinced voters to reject the proposal, leaving private banks with the right to create money."We are pleased, this would have been an extremely damaging initiative," said Heinz Karrer, president of business lobby Economiesuisse.http://www.dw.com/en/swiss-referenda-approve-betting-regulation-reject-monetary-system-reform-and-olympics/a-44148196