class=”sc-3778e872-0 gWjAEa”>
questions upon questions. The Credit Suisse crash leaves many at a loss. How could that happen? And is the takeover by UBS the right solution? And what role did the Bundesrat and the supervisory authorities play in this?
The head of the National Council wants answers to these and many more questions. The office of the Grand Chamber around National Council President Martin Candinas (42, GR) therefore unanimously advocates the establishment of a Parliamentary Commission of Inquiry (PUK). The claim had previously been submitted by several parties. Now the pressure is increasing again considerably.
The Bureau of the National Council has expressed its support for the instrument of parliamentary initiative to speed things up. This now goes to the office of the Council of States. If the heads of both chambers are in favour, there will be a hearing in the Federal Council and a federal decision will follow.
It was an economic earthquake. The Credit Suisse crash shocked the country. Only at the very last moment did the Bundesrat save the traditional company from final ruin with an emergency law and together with the National Bank (SNB) and urged UBS to take over the faltering competitor. In fact, the parliamentary finance delegation could only sleep the billion dollar deal.
But did everything go well here? Shouldn’t the Bundesrat have acted much sooner? After all, the problems have been visible for a long time. This puts the Netherlands Authority for the Financial Markets (Finma) in a bad light. Did she really do her job? And what role does the SNB actually play? Or the financial delegation that gave the green light at short notice and thereby sidelined Parliament?
Parliament will also consider the acquisition of CS by UBS and the financial guarantees granted by the federal government during an extraordinary session from April 11 to 13. Among other things, the National Council is concerned with the CHF 109 billion commitment credits decided by the Federal Council to secure the merger.
Source:Blick
I am Liam Livingstone and I work in a news website. My main job is to write articles for the 24 Instant News. My specialty is covering politics and current affairs, which I’m passionate about. I have worked in this field for more than 5 years now and it’s been an amazing journey. With each passing day, my knowledge increases as well as my experience of the world we live in today.
On the same day of the terrorist attack on the Krokus City Hall in Moscow,…
class="sc-cffd1e67-0 iQNQmc">1/4Residents of Tenerife have had enough of noisy and dirty tourists.It's too loud, the…
class="sc-cffd1e67-0 iQNQmc">1/7Packing his things in Munich in the summer: Thomas Tuchel.After just over a year,…
At least seven people have been killed and 57 injured in severe earthquakes in the…
The American space agency NASA would establish a uniform lunar time on behalf of the…
class="sc-cffd1e67-0 iQNQmc">1/8Bode Obwegeser was surprised by the earthquake while he was sleeping. “It was a…