Swiss landslide clear-up part funded by missing banknotes

A Swiss charity, which covers the uninsured damage of natural disasters, is supporting the landslide-devasted villages of Blatten and Ried – partly funded by the proceeds of lost banknotes. +Get the most important news from Switzerland in your inbox The foundations Fonds Suisse is among a host of agencies offering to help the villagers get back on their feet. Daniel Arni, managing director of Fonds Suisse, explained the funding mechanism to Swiss public broadcaster SRF. + Why do Swiss mountains collapse? It’s complicated "When the Swiss National Bank (SNB) issues new banknotes, it recalls the old ones. Twenty-five years after the banknote are recalled, the value of the notes that were not exchanged will be distributed," said Arni said. Fonds Suisse will receive a portion of this. Last month, the Swiss central bank transferred almost CHF180 million to the foundation from its CHF400 million missing banknote fund. + What can be done about melting mountain permafrost? Some of this ...