“The fact that around a quarter of voters supported the Vollgeld Initiative shows there is a real appetite for radical reform of a money and banking system which does not seem to be working for most people.

“Though the Swiss rejected this particular Sovereign Money proposal in today’s referendum, the debate has sparked a much needed debate on the fundamentals of money, and who should have the power to create and distribute it. The Vollgeld Campaign should be applauded for bringing such an important issue to global attention.

“This vote should not represent the end, but rather the beginning of a global conversation about whether control of money creation should be in private or public hands. The question has been raised by the Swiss, and there is a growing movement across Europe ready to respond.”