SP accuses civilians of delaying tactics

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The Economic Commission of the National Council wants to take its time to process the CS debacle. Instead of immediately initiating concrete legislative changes, they must first be properly analysed. The SP feels fooled by the bourgeoisie. “Despite big promises, expensive newspaper advertisements and strong announcements, ordinary people are playing ahead of time in parliamentary committees and do not want to do anything concrete against the policy of irresponsibility and the casino of the financial center,” said SP co-chair Cédric. Wermuth (37 ), himself a member of the Commission.

The economic politicians have adopted five postulates. In it, she calls for a thorough analysis of regulatory action options for systemically important banks, a review of the “too big to fail” legislation, an assessment of the competitive and economic significance of the merger of UBS and CS, and an analysis of the causes that led to the collapse of CS could have led. In addition, the Federal Council should compare the instruments of the Swiss National Bank (SNB) with those of central banks in other countries. There is “undoubtedly” a need for legislative action.

Request for bonus cap rejected

The Commission calls for an “immediate interpretation”. But the SP fears that you are playing time. In theory, the federal administration has two years to respond to the postulates.

New measures are now urgently needed, Wermuth insists. The SP advocated, among other things, a bonus ceiling for systemically important banks, an increase in the equity ratio to 20 percent and a revision of the ‘too big to fail’ legislation. All these requests have been rejected.

The WAK’s claims will now be considered by the National Council at its extraordinary session next week. To this end, the Bundesrat must issue an opinion. (SDA/lha)

Source:Blick