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Switzerland considers full or partial nationalization of Credit Suisse
And then who takes over Switzerland? The European Central Bank? The U.S. Federal Reserve? The United Federation of Planets?
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By Jan-Henrik Foerster, Eyk Henning,
Marion Halftermeyer, and Dinesh Nair
Bloomberg News
Sunday, March 18, 2023
Swiss authorities are considering a full or partial nationalization of Credit Suisse Group AG as the only other viable option outside a UBS Group AG takeover, according to people with knowledge of the matter.
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The country is considering either taking over the bank in full or holding a significant equity stake if a takeover by UBS Group AG falls apart because of the complexities in arranging the deal and the short time frame involved, the people said, asking not to be identified as the matter is private.
The situation is very fluid and can still change as authorities seek to finalize a solution for the bank by the time Asian markets open, which is late evening in Europe, the people said. ...
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