The strong franc left a deep imprint on the Swiss mechanical and electrical engineering industries («MEM industries») in 2011, especially in the second half of the year. In comparison to the previous year, new orders and sales figures stagnated throughout 2011 as a whole. Companies are being forced to implement a range of measures, some unpopular, to regain their ability to compete at international level. Adoption of the «Ferieninitiative» proposal to increase statutory holiday entitlement to six weeks a year in Switzerland would weaken them in this struggle and cost jobs. Moreover, Switzerland is not yet managing to fully exploit its potential for innovation. Swissmem is thus hoping for a «No» vote on the «Ferieninitiative» in the referendum of 11 March 2012. Swissmem is also calling for more resources to be allocated to promoting innovation.