Today news
About the same in other media
It Wasn’t Just Credit Suisse. Switzerland Itself Needed Rescuing.
Reading now: 446
wsj.comZURICH—The chairman of Switzerland’s largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG.
For any country, it would be a financial emergency. For Switzerland, the stakes verged on existential. Its economic model and national identity, cultivated over centuries, were built on safeguarding the world’s wealth. It wasn’t just about a bank. Switzerland itself needed rescuing.
Read more on wsj.comAbout this in other media
Credit Suisse chair ‘truly sorry’ over downfall of 167-year-old bank theguardian.com /1 year ago
Credit Suisse shareholders gather at annual meeting to demand answers over UBS rescue cnbc.com /1 year ago
Switzerland’s attorney general to investigate Credit Suisse takeover theguardian.com /1 year ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
