“UBS-Credit Suisse Takeover Receives International Approval amidst Swiss Parliament’s No to Federal Loans”

The takeover of Credit Suisse by UBS was received positively internationally. Finance Minister Karin Keller-Sutter said this to the media in Washington at the end of a meeting of the International Monetary Fund and the G20 finance ministers’ meeting.

No one worried about the Swiss parliament’s no to the federal loans for the takeover, said Keller-Sutter. She also reiterated that the no had no consequences.

«The legal position is clear. You have to submit this loan to Parliament, but it has already been committed by the finance delegation and therefore a no by Parliament has no consequences,” she said.