The Swiss are preparing to vote in referendums gold reserves and Immigration

Swiss cast their ballots on Sunday to determine if they are forced the central bank to strengthen its reserves of gold and whether it imposes drastic restrictions on immigration in a series of referendums. System of direct democracy in Switzerland and gives its citizens the right to impose a referendum if they can collect enough signatures to support it. And initiatives that are approved in such referendums to be turning to the law within three years regardless of how usability of the formulation for the policy makers and the business community. And reflect the referendums held Sunday growing concern that some people considered dangerous for traditional Swiss values shift. Although Switzerland boom, which some people believe they are under siege by immigrants who seek work and business partners who insisted in recent years to end its business model based on banking secrecy. The newspaper "Tages Anzeiger", said on Saturday that "this Sunday is also the future of Switzerland in Europe. "Referendum" immigration "initiative, also vote on bilateral agreements with the European Union." Polls have indicated that the three initiatives to be put to a referendum on Sunday regarding gold and immigration in addition to a third referendum on taxing the wealthy foreigners will not Tjaz. And preparing gold markets and currencies to gold as a result of which, if accepted by the Swiss National Bank will be forced to acquire at least 20% of its assets in the form of an initiative gold and prevent the bank from selling until the reserves that represent the seventh-largest reserves in the world. The central bank urged voters to reject the initiative of gold, saying he would have to buy gold worth 70 billion Swiss francs, "$ 72.5 billion", about two-thirds of the world's total annual gold production within five years to increase its reserves of about eight percent of current assets. The second referendum will decide whether to reduce the annual migration rate of three-quarters of current levels in order to reduce the pressure posed by high levels of immigration to the Swiss natural resources.