badish newspaper
Freiburg (ots)
Instead of hesitating for a long time, the bank was initially supported with a liquidity injection from the central bank when customers withdrew billions of francs due to a lack of trust. After it became clear that this was not enough to prevent the tottering money goliath from collapsing, the state quickly resorted to tougher measures. This speed is a lesson learned from the 2008/2009 financial crisis, when the world teetered on the brink of financial collapse due to a bank failure and hesitant responses. Only if the state intervenes with power and determination in the capital market can the trust on which the system is based be restored. It is difficult to say whether the state-mandated forced marriage of UBS with CS is the better way or whether direct state involvement in the crisis bank would have been more useful. The rescue of CS under the umbrella of UBS will weaken competition and cost many jobs. But at least it has the advantage that there is a perspective for the Swiss financial center – with a major bank that does what the Swiss are very good at: managing the assets of others. https://www.mehr.bz/khs79m
Press contact:
badish newspaper
Final editing Badische Zeitung
Phone: 0761/496-0
[email protected]
Original content from: Badische Zeitung, transmitted by news aktuell
