Finance minister says government-brokered takeover by UBS was only alternative to disaster
GENEVA: Switzerland’s finance minister says the country’s economy probably would have collapsed had Credit Suisse gone bankrupt.
In an interview with Le Temps newspaper, Karin Keller-Sutter said the government had acted in the country’s best interests in swiftly arranging the takeover of Switzerland’s second-biggest bank by its larger domestic rival UBS.
Amid fears of a global banking crisis last month,…
