Published 1 year ago

Swiss finance minister defends rushed banking takeover

Summary by Ground News

Swiss finance minister Karin Keller-Sutter defended the shotgun merger between the country's two largest banks. Emergency law was used to enable the banks to reach a speedy agreement. Shareholders, for example, who would normally get a say in such a takeover were largely bypassed.

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Reuters

Swiss finance minister defends rushed banking takeover

Switzerland's finance minister defended the shotgun merger between the country's two largest banks in an interview with Swiss newspaper Neue Zuercher Zeitung on Saturday, saying the use of emergency law was necessary to stabilise the situation.

1 year ago·United Kingdom

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WTVB

Swiss finance minister defends rushed banking takeover

ZURICH (Reuters) - Switzerland's finance minister defended the shotgun merger between the country's two largest banks in an interview with Swiss newspaper Neue Zuercher Zeitung on Saturday, saying the use of emergency law was necessary to stabilise the situation. "Credit Suisse would not have survived Monday," Karin Keller-Sutter said, explaining the need to find a swift solution for Credit Suisse's woes. "Without a solution, payment transac…

1 year ago

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