‘The Bundesrat takes the political signal seriously’

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Parliament actually had nothing more to say – and still said no. At its extraordinary session on Wednesday, the National Council refused to approve the billion-euro deal to bail out Credit Suisse.

However, that does not change anything for the time being: the funds have already been fully allocated, as the federal government’s default guarantee to the National Bank and the federal government’s guarantee to UBS are part of the agreement on the acquisition of Credit Suisse by UBS.

After the second no to the 109 billion pledge credits from the National Council, Finance Minister Karin Keller-Sutter (59) left the room visibly pissed off on Wednesday. The FDP federal councilor has so far not wanted to answer any questions.

But now her finance department assures Blick that the political signal is being taken seriously. Even if the loud no initially does not affect the spoken assurances. “The federal government will take the political signal into account when negotiating with UBS, but at the same time be very careful not to jeopardize the takeover by UBS,” said a spokesman for the department.

promised renovation

The Federal Council also wants to monitor the signal regarding further work. At the same time as the announcement was made, the government announced that it would accept the events leading up to the takeover of Credit Suisse by UBS and the government actions taken. The finance department also announced a comprehensive analysis of the too-big-to-fail regulations.

This analysis should include external reports and answer the questions that Parliament has submitted to the Bundesrat as part of the postulates. The results should be presented to boards within a year in the Federal Council’s next report on Systemically Important Banks. (she)

Source:Blick