Faulty paper blamed for new banknote delay

by Malcolm Curtis|The Local, Switzerland|August 10, 2012

The introduction of new Swiss banknotes has been postponed for a second time because of technical problems linked to the paper to be used, a new report says.

Designs for the new series of notes were first made public by the Swiss National Bank (SNB) in 2005.

Initially, the central bank planned to put the high-tech bills into circulation by 2010, but this date was put off until later this year.

Now, the Tages-Anzeiger newspaper is reporting that the new money will not see the light of day until at least 2014.

The newspaper says the problem for the delay lies with a paper manufacturer in the canton of Graubünden.

In February, the SNB announced “unexpected technical problems” for delaying the release of the notes for at least a year.

The central bank did not go into details.

But Tages Anzeiger says the problem lies with LandQart, a company based in the Graubünden town of Landquart, which supplies paper to Orell Füssli, a firm that has printed Swiss money for decades.

To read the full article, check TheLocal.ch

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About Malcolm Curtis

Freelance English-language communications professional (writing, editing, translations) based near Geneva, Switzerland. Let me know if I can help you.
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