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1999 Swiss referendums

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Ten referendums were held in Switzerland during 1999. The first four were held on 7 February on changes to the eligibility for membership of the Federal Council (approved), constitutional regulations on organ transplantation (approved), a popular initiative "house ownership for everyone" (rejected) and an amendment to the federal law on spatial planning (approved). The fifth was held on 18 April on a new Swiss Federal Constitution, which was approved.

The last five referendums were held on 13 June on the asylum law (approved), on a federal resolution on asylum and foreigners (approved), a federal resolution on the medical prescription of heroin (approved), federal laws on disability and maternity insurance (both rejected).

Background

New constitution

The proposed new constitution would sever the link between gold and the Swiss franc, which had been required by the old constitution.

The Swiss National Bank was the last central bank to hold substantial gold reserves to back its currency. The 2590 tonnes of gold provided 40% of the value of the franc.

Results

Month	Question	For	Against	Blank/invalid	Total	Registered
voters	Turnout	Cantons for	Cantons against	Votes	%	Votes	%	Blank	Invalid	Full	Half	Full	Half
February	Federal Council membership eligibility	1,287,081	74.7	436,511	25.3	34,504	5,457	1,764,453	4,641,615	38.0	18	6	2	0
Organ transplantation regulations	1,501,925	87.8	209,263	12.2	46,216	5,471	1,762,875	38.0	20	6	0	0
House ownership for everyone	721,717	41.3	1,025,025	58.7	19,817	5,410	1,771,969	38.2	3	0	17	6
Spatial planning law amendment	952,482	55.9	750,130	44.1	53,715	5,699	1,762,026	38.0
April	New constitution	969,310	59.2	669,158	40.8	23,335	5,066	1,666,869	4,642,854	35.9	12	2	8	4
June	Asylum law	1,443,137	70.6	601,389	29.4	66,156	7,282	2,117,964	4,646,362	45.6
Federal resolution on foreigners and asylum	1,447,984	70.8	595,908	29.2	68,695	7,125	2,119,712	45.6
Medical prescription of heroin	1,128,393	54.4	944,919	45.6	45,297	6,760	2,125,369	45.7
Federal law on disability insurance	620,797	30.3	1,428,986	69.7	63,774	7,102	2,120,659	45.6
Federal law on maternity insurance	822,458	39.0	1,286,824	61.0	19,146	6,456	2,134,884	45.9
Source: Nohlen

Aftermath

The new constitution approved in April made the franc fully fiat, and the Swiss National Bank began selling its gold reserves. Some of the proceeds were used to set up a "solidarity fund" with developing nations. By November, the gold stockpile was reduced to 25%.

References

[[Dieter Nohlen. Nohlen, D]] & Stöver, P (2010) ''Elections in Europe: A data handbook'', p1940 {{ISBN. 9783832956097
[http://www.ejpd.admin.ch/content/dam/data/staat_buerger/gesetzgebung/bundesverfassung/bv-alt-f.pdf Article 39 (7) of the Swiss Federal Constitution of 1874 read that banknotes must be covered by gold and short term securities.]{{Dead link. (February 2019)
[http://www.timeshighereducation.co.uk/story.asp?storyCode=145955&sectioncode=26 David Jobbins, "Eye Witness", ''Times Higher Education Supplement'', 16 April 1999.]
(April 19, 1999). "Swiss Narrowly Vote to Drop Gold Standard". The New York Times.
[https://www.theguardian.com/business/1999/apr/12/columnists.guardiancolumnists1 Dan Atkinson, "Worm's Eye on the Bullion Tactics of Swiss Elite", ''The Guardian'', 12 April 1999.], Retrieved 6 May 2012.
"Ulrik Bie and Astrid Henneberg Pedersen, "The Role of Gold in the Monetary System", ''Monetary review - 3rd Quarter 1999, Danmarks Nationalbank''".
"Robert Mundell, "The International Monetary System in the 21st Century: Could Gold Make A Come Back?", Lecture delivered at St. Vincent College, Letrobe, Pennsylvania, March 12, 1997, at robertmundell.net.".
[http://www.slate.com/articles/business/the_dismal_science/1996/11/the_gold_bug_variations.single.html Paul Krugman, "The Gold Bug Variations", ''Slate'', No. 23, 1996.]
(15 April 1999). "Swiss Gold - On Hold.". Gale Group.
[http://www.snb.ch/en/mmr/speeches/id/ref_19990614_jpr/source/ref_19990614_jpr.en.pdf Roth, Jean-Pierre, "A View on Switzerland in the Run up to the Demonetarisation of Gold", 22nd Annual FT World Gold Conference, London, 1999.]
{{in lang. link. (2013-10-19)
[http://robertmundell.net/ebooks/free-downloads/#56 Robert Mundell & Milton Friedman, (2001) "One World, One Money? Robert Mundell and Milton Friedman debate the virtues - or not - of fixed exchange rates, gold, and a world currency", Options Politique, Mai 2001, at robertmundell.net]
"Gold reels after Swiss propose sale of reserves". [[The Sunday Times (South Africa).
See {{in lang. fr [http://www.hls-dhs-dss.ch/textes/f/F13747.php Jakob Tanner, "Banque nationale suisse (BNS)" in ''Dictionnaire historique de la Suisse'', 02/10/2006.]
{{in lang. link. (2013-10-19)

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