Minister says bank takeover prevented Swiss economy collapse

[superadmin]

GENEVA: Swiss finance minister Karin Keller-Sutter said Switzerland’s economy would probably have collapsed had Credit Suisse gone bankrupt, in an interview published today.

Keller-Sutter told Le Temps newspaper that 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.

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