Published 1 year ago

Swiss parliament holds emergency session on Credit Suisse rescue

Summary by Inquirer

Since Switzerland's authorities last month pulled out all the stops to rush through a rescue of Credit Suisse, a storm has been brewing in the normally tranquil country.

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Times of India

Swiss parliament holds emergency session on Credit Suisse rescue

On Tuesday, they will meet in Bern for an extraordinary session to discuss Credit Suisse's downfall as well as the government's open chequebook response. The unusual event - the third such session in over twenty years - provides parliament with a chance to reject the massive loans given as part of the rescue package. The vote is, however, largely symbolic as the state has already committed the funds and lawmakers cannot overturn that decision.

1 year ago·India

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Reuters

Credit Suisse rescue receives initial snub from Swiss parliament

Switzerland's parliament on Tuesday failed to approve the 109 billion Swiss francs ($120.5 billion) of financial guarantees used to rescue Credit Suisse last month, in a first-round vote that was largely symbolic given the state had committed the funds.

1 year ago·United Kingdom

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Associated Press News

Swiss lawmakers pick apart Credit Suisse woes ahead of deal

Switzerland’s parliament is opening a special session to scrutinize the state-imposed takeover of Swiss bank Credit Suisse by rival UBS. Lawmakers on Tuesday also could consider strengthening the legal arsenal

1 year ago·United States

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Hindustan Times

Swiss lawmakers slams govt on UBS-Credit Suisse deal

Parliament, just like shareholders, didn’t get a say on the deal, yet the March 19 agreement was signed off by a small group of senior MPs.

1 year ago·New Delhi, India

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abc News

Swiss lawmakers pick apart Credit Suisse woes ahead of deal

Switzerland’s parliament is opening a special session to scrutinize the state-imposed takeover of Swiss bank Credit Suisse by rival UBS

1 year ago·United States

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Washington Times

Credit Suisse rescue rebuked by half of Swiss parliament

Switzerland's lower house of parliament issued a searing - though symbolic - rebuke Wednesday of an emergency plan spearheaded by the executive branch to prop up embattled Credit Suisse and shepherd it into a takeover by Swiss banking rival UBS.

1 year ago·United States

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