SNB rejects "unrealistic" state pension initiative

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SWITZERLAND - The Swiss National Bank (SNB) has rejected an initiative to use its profits to prop up the AHV/AVS state pension as "dangerously populist" and "unrealistic".

Jean-Pierre Roth, chairman of the Governing Board of the Swiss National Bank, said the Cosa initiative, proposed by the Social Democratic party, presented an unrealistic picture of the SNB’s profit...

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