![](https://i0.wp.com/shacklemedia.com/wp-content/uploads/2023/03/it-wasnt-just-credit-suisse-switzerland-itself-needed-rescuing.jpg?w=640&ssl=1)
ZURICH—The chairman of Switzerland’s largest bank received an urgent call last week. On the other end were three top Swiss officials who delivered an ultimatum dressed up as a proposal. UBS Group AG needed to rescue its failing rival, Credit Suisse Group AG.
For any country, it would be a financial emergency. For Switzerland, the stakes verged on existential. Its economic model and national identity, cultivated over centuries, were built on safeguarding the world’s wealth. It wasn’t just about a bank. Switzerland itself needed rescuing.
What’s News
Source: finance.yahoo.com
Related posts:
Bankman-Fried's expert witnesses rejected by judge
Plug Power: Investors Underestimating the Growth Potential, Says Oppenheimer
Berkshire Hathaway Buys Remaining 20% of Pilot Travel Centers, Ending Dispute
Nvidia Recently Bought 5 Artificial Intelligence (AI) Stocks. These 2 Stand Above the Rest.
TSMC Nears $1 Trillion Valuation as Target Upgrades Boost Rally