class=”sc-3778e872-0 cKDKQr”>
The Bundesrat sees no consequences after Parliament’s no to the Credit Suisse loans.
At its meeting “he noted that the National Council in the extraordinary session of 11/12. April 2023 twice rejected the urgent pledge credits for guarantees in favor of the Swiss National Bank (SNB) and UBS,” the Federal Council announced on Wednesday .
The Bundesrat takes Parliament’s position into account ‘as far as possible’
Parliament discussed these loans on the assumption that a refusal would have no legal effect on the urgent obligations of the federal government towards the SNB and UBS. Without these obligations, UBS would not have been able to take over Credit Suisse and thereby stabilize the financial system.
However, the Bundesrat also states that it will take Parliament’s position into account as far as possible in its future work and decisions. (she)
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.
