Swiss bank UBS to take over Credit Suisse
The President of the Swiss Confederation, Alain Berset (c.), announced the takeover of Credit Suisse Bank by UBS. AP - Peter Klaunzer
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Switzerland's leading banking group UBS is buying its troubled rival, Credit Suisse. This was announced on Sunday 19 March by the President of the Swiss Confederation.
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President Alain Berset said this was the best way to "restore trust". This solution "is not only decisive for Switzerland (...) but for the stability of the entire global financial system," Berset said.
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- Switzerland
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