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Swiss lawmakers pick apart Credit Suisse woes ahead of deal


Associated Press

GENEVA (AP) — Switzerland’s parliament has opened a special session to scrutinize the state-imposed takeover of Swiss bank Credit Suisse by rival UBS. Lawmakers on Tuesday also are considering strengthening the legal arsenal to better gird against financial blowups. The legislative debate could run up to three days, with lawmakers voicing and needing to iron out disagreements over the $3.25 billion merger of Switzerland’s two biggest banks. The deal to rescue long-troubled Credit Suisse marks a thunderclap for a country that prides itself on its finesse and acumen in finance. Lawmakers are discussing accountability for long-troubled Credit Suisse, state emergency funds for the merger and what it will mean to have one giant bank.

Article Topic Follows: AP National Business

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Associated Press


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