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MIL OSI Translation. Region: Germany / Deutschland –

Source: Switzerland – Federal Administration

Headline: Federal Council and Parliament reject funding ban initiative

On November 29, 2020, the Swiss electorate will decide on the federal popular initiative “For a ban on the financing of war material producers”. The ban is to apply to the Swiss National Bank, AHV / IV, pension funds and foundations as well as banks and insurance companies. Acceptance of the initiative would put Switzerland at a disadvantage as a financial and business location and endanger old-age pensions. At the media conference on 9 October 2020, Federal Councilor Guy Parmelin reaffirmed the position of the federal government and parliament.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and / or sentence structure not be perfect.

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