Finance minister states government-brokered takeover by UBS was just option to catastrophe released : 8 Apr 2023 at 21: 43 Swiss Finance Minister Karin Keller-Sutter and UBS chairman Colm Kelleher evaluation some information previous to a news conference on the takeover of Credit Suisse by UBS, in Bern on March19 (Photo: AFP) GENEVA: Switzerland’s financing minister states the nation’s economy mostlikely would have collapsed had Credit Suisse gone insolvent. In an interview with Le Temps paper, Karin Keller-Sutter stated the federalgovernment had acted in the nation’s finest interests in quickly settingup the takeover of Switzerland’s second-biggest bank by its bigger domestic competing UBS. Amid fears of a international banking crisis last month, financier self-confidence in Credit Suisse collapsed on March 15, with the federalgovernment then managing a takeover throughout the weekend priorto the markets resumed on March20 Some 109 billion Swiss francs ($120 billion) haveactually been put on the table inbetween federalgovernment guarant
Read More.
The news from the world
The news from the world