As I understood what I read about the vote, the Swiss essentially didn't want their country to become a tourist mecca for those of us who like to induldge in cannabis. The were also concerned about the political ramifications of the legalization vis a vis their neighbors. Overall, I guess if you have the banks tourism dollars aren't that big of a deal.

The same election, they voted to nationalize a heroin harm reduction program that provides free heroin with mandatory councilling to addicts. So I wouldn't claim this election represented a complete rejection of reasonable drug policy but rather a reaction the policies of Switzerland's neighbors.