The Swiss banking group UBS will buy Credit Suisse, announced this Sunday the president of Switzerland, Alain Berset, considering that this is the best way to “restore confidence”.
The solution “is not only decisive for Switzerland (…) but for the stability of the financial system” throughout the world, Berset said.
Credit Suisse went through a turbulent week, having lost more than 25% of its stock value.
Source: TSF
