Swiss Finance Minister Karin Keller-Sutter says UBS taking over Credit Suisse is not a bailout. She speaks in Bern, Switzerland.
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Swiss Finance Minister Ueli Maurer recently made a statement about the possible merger of two of Switzerland’s largest banks – UBS and Credit Suisse. Maurer said that UBS buying Credit Suisse is not a bailout, as many have speculated.
The merger has been a hot topic in the Swiss banking sector for months. Many believe that the merger would create a banking behemoth that would inevitably require government assistance in the event of a financial crisis. However, Maurer dismissed these claims, stating that the merger would be a strategic move for the banks and would not involve any government bailout.
Maurer’s statement comes amid growing concerns about the stability of both UBS and Credit Suisse. Both banks have been hit hard by the COVID-19 crisis and the resulting economic downturn. UBS posted a 16% drop in profits in the third quarter of 2020, while Credit Suisse reported a 38% decline in profits in the same period.
The proposed merger would bring together two of Switzerland’s largest and most important banks. UBS is one of the largest wealth managers in the world, while Credit Suisse is a top-tier investment bank. The merger would create a bank with a combined market value of around $139 billion – making it one of the largest banks in the world.
Despite the potential benefits of such a merger, many remain skeptical. Some fear that a merger of this size could destabilize the Swiss banking sector and put taxpayers at risk. However, Maurer’s statement suggests that the Swiss government has no intention of providing a bailout to either UBS or Credit Suisse.
Maurer’s comments have been met with mixed reactions from the Swiss business community. Some have praised his reassurances that a merger would not involve a government bailout, while others have criticized the government for not doing more to prevent the crisis in the first place.
Regardless of the government’s stance, the proposed merger between UBS and Credit Suisse is still a topic of much discussion in Switzerland. Whether or not the two banks eventually merge, it is clear that the Swiss banking sector is facing significant challenges. Only time will tell if the sector can weather the storm and emerge stronger on the other side.
AHAHAHAHAHA. The Disneyland storytelling time is now full TV programme in Switzerland. If not a PART BAILOUT / FULL DISOWNING OF SHAREHOLDERS, what is it then? Please if it is shite it smells like shite. You lying sleazy snake with all your colleagues robbing shareholders and retail investors. You should be jailed for breaking the law and violating the swiss constitution.
Wie bei allen BR ist auch Bundesrätin Karin Keller-Sutter eine von Lobbyisten gesteuerte Marionette ohne Erfahrung von allem! Wenn der Schuss nicht mal nach hinten losgeht?
Worst country in the world I can tell you as citizen! Little american sister and by the way the finance minister is a left radical! Total desaster!
CS was sold to UBS at 10% of book value… are you sure you are not forcing one to loot the other ??? At the end of the day, can you show some evidence (not just echoing the rumors in the media) that CS is truly failing ? It still had 14% Tier-1 ratio before the weekend… you mean no one can trust the numbers anymore ?
Please can you share your phone records. Hmmm maybe telepathy does exists
To big for jail!
Bs!!!!
Oh so now UBS owns credit Swis, JPM owns UBS, years of lies on bullion reports. You don't get your gold back. Keep your paper. China and Russia change is coming.
I'm not saying it's a bailout, but it's a bailout.
It's not often that a strong solvent business will buy up a failed business. As long as they're responsible to all the customers of the business they're buying I guess that's how capitalism works. But a failed business should be allowed to fail and disappear.
Ops… Switzerland government will use people money to bail bank out… watch international investors draw their money out of the country.
Ms Keller-Sutter has done an outstanding job. She deserves a state award as well as international recognition. Two days! I am looking forward to the movie.
IT IS NOT A BAIL OUT IT IS A SCAM UBS SCAMMED CREDIT SUISSE PAID 3.2 B FOR 500 B IN ASSETS
Bla bla bla. The conditions of the 50bn “loan” are not disclosed. I am sure UBS will not take the risk. Tax payers will pay the bill for sure. A “healthy” bank takes over a broke bank. Guess what will happen to UBS? Don’t forget the bail in taking place here.
The BIS is starting its plan to nationalize the banking system and control capital flows via CBDC. That is the roadmap. It is not a bailout, it is the start of the nationalization of the banking industry.
Smart people run first to their bank, the dumb money stands before the ran down banks afterwards
Criminal illegal bailout
Wow… Great example to teach kids how to lie by forcing them watch this beach’BS over and over again.
so….this is a bailout lol
They literally forced UBS to take up a sinking ship, thats a bailout in every dictionary. Plus the gov will cover the losses for UBS.
Poor regulation within the Swiss Banking system? They may need to bench against stronger Banking regulation jurisdictions?
It is a dark day! Swiss first, fuxx the international investors/share holder and the bond investors, This is the the Swiss bank the whole will remember!!!
Swiss bank holds 16B USD international investor's money, now the finance mininster put Swiss government interest first, negotiate with the UBS and CS with serious of conflict of interest, by reversing the priority of bond and shares, this is clear wrong doing
16BUSD AT1 Bond has higher priority than the shares. But the Swiss government, UBS and CS negotiated behind the close door with serious of conflict of interest, imagin the CS management in the room also holds the CS shares, so they raise the priority of share, but make the bond holder lose 100%. this is absurd, wrong doing with the Swiss government watching it
According to movie everything everywhere all at once, she could have said there is a universe where this is not a bailout but on this one it is. 🙂
In my opinion, the Swiss bank collapse has something to do with the fact that the oligarchs from Russia are moving their money from Switzerland to other countries such as China in order to bring the global banking system into trouble.
There's more market fear in the government than the market.
Opohetokot namohnit. Svatia deka proet itə sə sovrweni. Oti ot500 ynazat smetani
they think people stupid as fuk hahaha! Where the hell all money come from ? Fall from sky ? :))
Bail out
This is a MASSIVE bailout … with a commercial element. The Swiss government backing this deal. Bondholders are taking a massive hit, which will alter pricing of other banks. UPS is taking over the assets of Credit Suisse far below market close on Friday, so shareholders are talking a hit. The result will be very large layoffs, before UPS starts packaging and selling off various parts of CS to make back some of its "investment". A government funded garage sale is what this is.