class=”sc-3778e872-0 cKDKQr”>
To date, Parliament has only been able to stand by and watch. To save the faltering Credit Suisse, the Federal Council, the Authority for the Financial Markets and the National Bank had urged UBS to take over arch-rival CS.
The Federal Council presented the National Council and the Council of States with a fait accompli. The federal government is prepared to spend 109 billion francs to save Credit Suisse from collapse. Parliament can really only approve the CS-UBS deal.
Loans must be subject to conditions
From today, Tuesday to Thursday, parliament meets for the extraordinary session, which will deal exclusively with the CS rescue and its consequences. Even if she can no longer legally reverse the government’s emergency decision, the multi-billion dollar loan vote is not just a token exercise. Various political groups make it clear that they want to attach conditions to a yes to the commitment appropriations.
In contrast to regular sessions, both chambers do not debate at the same time, but alternately. The first item on the agenda in both councils is a statement from the Federal Council. The Council of States starts this morning at 11.15 am. Blick reports continuously in the live ticker.
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.
