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Cash is king as Switzerland unveils new banknotes

Published Mon, Apr 4, 2016 · 09:50 PM
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Washington

MANUEL Brandenberg, a lawmaker in the Swiss canton of Zug, loves cash - so much so that he once astounded a municipal official by paying his taxes with a wad of banknotes.

That belief in bills is shared by many of his compatriots, who have a penchant for hard currency even when electronic options are available. In a country whose wealth managers flourished thanks to banking secrecy, citizens often cherish the untraceable privacy conferred by notes and coins.

"Cash is property and cash is freedom," said Mr Brandenberg, 44, an attorney and member of the nationalist Swiss People's Party. "It empowers the individual, b…

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