© Fabrice Coffrini/AFP/Getty ImagesA woman casts her ballot during a referendum on May 18, 2014 in Bulle, western Switzerland. Swiss voters are to decide in a referendum on May 18 whether to bring in the world’s highest minimum wage, offering each and every worker at least 25 dollars an hour. The Swiss will also be voting on a multi-billion-dollar deal to buy fighter jets from Sweden, and are almost certain to back measures to ban paedophiles from working with children.
Swiss voters reject $25 minimum wage http://t.co/ZS6CUVWMxe pic.twitter.com/2HZ3cMT5MYThe idea of creating the world's highest minimum wage was criticized by government and business leaders as likely to drive Switzerland's high costs even higher.
- Circa (@Circa) May 18, 2014
The Federal Council was expected to hold a news conference shortly to announce official results.
Swiss polls have opened for voting on a nationwide referendum to introduce the world's highest minimum wage of 22 Swiss francs ($24.70) an hour.
Voters also cast ballots Sunday on three other citizen-inspired referendums. Switzerland's unique system of popular rule involves a weak federal government, 26 strong state governments and regular national referendums on issues.
The other referendums, if passed, would provide the Swiss Air Force with 22 of Saab's new Gripen fighter jets; impose a lifetime ban on convicted pedophiles working with children; and amend the constitution to support more family doctors in rural areas.
Trade unions back the wage proposal. Surveys indicate that most voters side with government and business leaders, who argue it would cost jobs and economic competitiveness.
Early figures point to Switzerland saying NO to a CHF22($25)/hour minimum wage. The rate would have been the highest in the world. #CHVoteSwitzerland currently has no minimum wage.
- electionista (@electionista) May 18, 2014
German pensioners developed a habit to bring their high pensions to Eastern-European countries, buy a crappy house there that needs renovation, doesn't matter if the wall is cracked, because with ridiculously low prices in these countries it can be rebuilt cheaply.
German pensioners then happily live in their renovated houses & on its beautified land ever after in Eastern-European countries for very cheap since food & luxury items and bills are really low priced, compared to their German pensions.
All this is, because living in Germany and countries around has been deemed too costly. Why live in an expensive country, when you can move eastward and live as a king from your pension?