In the Credit Suisse deal, Bern only had the obligation to execute – who is really benefiting from the strange bank sale?
Why Switzerland is giving UBS a multi-billion dollar gift and why the “too big to fail” rules are turning out to be a global paper tiger. The analysis.
Pays a symbol price for Credit Suisse: UBS.
The UBS share price is going up. We are noting the third day of stock exchange trading since that chaotic Sunday evening when Swiss Finance Minister Karin Keller-Sutter not only had to bow to her own compatriots, but above all to the entire financial world: “The failure of a systemically important bank would have had serious consequences. Switzerland must be aware of its responsibility beyond its own borders,” said the economically liberal politician, explaining the deal of the century, which she herself enforced using exceptional rights, the legitimacy and meaning of which the cleverest stock law specialists, economists and financial market experts can still only puzzle over.
