Economics

Switzerland’s Controversial 1,000-Franc Note Is Getting a New Look

Large denomination bills criticized for aiding crime

Switzerland Unveils the New 1,000-Franc
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At jeweller Les Millionnaires, tucked away in the historic old town of Zurich, being handed a 1,000-franc bill ($1,002) to settle a purchase is no unusual event.

“It's quite frequent that we've got someone who comes in looking for a present and who pays in cash because they don't want their partner to find out, “ said one of the proprietors of the shop, which sells earrings, necklaces and bracelets made of gold with precious stones. “It's the surprise effect.”