The National Council also sends out CS emergency loans on the second attempt

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The judgment of the National Council is crystal clear. In the second vote on Wednesday, he also said no to the CS loans. By 103 votes in favour, 71 against and 8 abstentions. Translated, this means: “The Federal Council has not acted correctly.”

With that, business is done and the extraordinary session is over. Parliament has refused to approve the CHF 109 billion loan with retroactive effect.

Only: The no does not change the fact that the loans are legally binding. Parliament’s finance delegation had approved this before the takeover of UBS. However, some fear that the final rejection in parliament could upset markets.

«Unholy Alliance» prevented Yes

Before the no to the loans, the National Council had refused to release the spending brake. He also rejected the terms and conditions. Nee voted an “unholy alliance” of the factions of the SVP, SP and Greens. The SP initially announced that the majority of its parliamentary party would agree. In the end, however, the intentions to prevent the next crisis did not go far enough for her.

The Council of States agreed that morning on a compromise, which was intended to convince the council on the left of a yes. Only: the plan went wrong. The SP and the Greens were still not confident that the Bundesrat’s mandate to limit bonuses and explore stricter equity requirements would do anything.

Together with the SVP faction, which again almost unanimously rejected the loans, the final result was this no. Although the Council of States approved the loans twice, the CS deal now lacks parliamentary approval.

Give each other on the roof

Last night, the National Council sent down the billion dollar loan for the first time. The meeting lasted until after 1 p.m. The guarantee promise was already stranded by the no of the SVP, the SP and the Greens.

Already on Tuesday, the mood turned, first in the debate and later on Twitter, towards mutual reproaches. In an election year, parliamentarians did what they do best: crawl on each other’s roofs. Right versus left, left versus right. The center against left and right – and vice versa.

The beating continued on Wednesday — at least in the digital space. No sooner had the extraordinary session ended than the MPs let go of the pressure and passed the hot potato to each other.

“Foam Brawl” and “Black Day for Democracy”

Jürg Grossen, 53, GLP president and national council member, described Wednesday as a “bad day for democracy and Switzerland” and ranted against the naysayers.

And the SP foamed: Cédric Wermuth (37), co-chair of the SP and National Council, immediately shot back. He too was disappointed with the result. And accused the “right-wing majority” of fluff. The fight for effective laws continues: because it is clear that we cannot afford another bank failure, the comrades said.

The middle party was also dissatisfied. State councilor Elisabeth Schneider-Schneiter (59) fears that Switzerland will get nowhere and criticized the “unholy alliance” in her tweet.

The FDP also handed out with the two-handed sword after the vote, which failed for them. She called the no to the billion-dollar loans an “irresponsible political theater by SVP and Links Groen”. The rejection of the CS pledge credits by the “unholy majority of the National Council” shows irresponsibility on the part of the pool parties and damages Switzerland’s credibility.

Source:Blick