Bid To End Financial Speculation On Foodstuffs

Bid To End Financial Speculation On Foodstuffs by Olivier Pauchard, swissinfo.ch
A proposal put forward by the Young Socialists aims to curb dramatic price rises on foodstuffs by restricting financial institutions from speculating on food and agricultural commodities.

The initiative “No speculation on foodstuffs” will be put to a nationwide vote on February 28. Opponents of the initiative say it is unrealistic and if passed, would be damaging to the Swiss economy.

Food markets are susceptible to wild fluctuations, with prices sometimes skyrocketing to the detriment of the poorest people who then let their anger spill over. In recent years, this kind of crisis has occurred twice: in 2007-08 and in 2010.

For the Young Socialists – the youth chapter...