Bank expert Kunz warns against FDP plan

class=”sc-3778e872-0 gWjAEa”>

No sooner had the CS-UBS deal been decided than non-party council member Thomas Minder (62, SH) spoke up: “We need to solve the too-big-to-fail problem by breaking up the big banks.” says the father of the rip-offs -Initiative im Blick interview. There should be no bigger banks anymore. And: “UBS must also be broken up. Imagine: what happens if UBS also gets into trouble?»

Minder’s claim has appealed to other parties. FDP leader Thierry Burkart (47) presented his plan on Wednesday to prevent another mega bank. CS’s Swiss operations will be separated from the rest of Credit Suisse, which will be absorbed by competitor UBS. De Aargauer is pleased that other parties are also speaking out in this direction. The liberals will now submit a corresponding application to the Economic Commission of the Council of States. The initiative will be discussed at the extraordinary session scheduled for April.

But not everyone is happy with Burkart’s split plan. While Sunday’s CS-UBS deal was bad, it at least calmed markets, banking expert Peter V. Kunz, 58, said on Tele M1. It bothers him that politicians are already campaigning and interfering with UBS.

Kunz is confident that UBS would pull out of the deal if there was such a spin-off requirement. “UBS won’t get a deal and then they won’t be able to keep the ‘pearl’.” So UBS wonders why it should take the “scrap scraps”. In fact, the UBS boardroom describes CS’ Swiss operations as a “jewel in the crown”.

Kunz warns that if politicians intervene in the deal and take a piece out, it will destabilize financial markets.

Grubel has reservations

Former CS and UBS boss Oswald Grübel (79) also has a reservation: “A CS Switzerland must provide international connections for our economy and therefore cooperates with an international bank,” he tells CH Media. If she did it alone, it was inferior to those international banks that offer the service from a single source. (Russian)

Source:Blick