Credit Suisse Bailout to Cost $13,500 to every Swiss Citizen

Switzerland’s tab for shoring up its reputation as a financial center could run to 12,500 Swiss francs ($13,500) for every man, woman and child in the country.

To backstop the emergency sale of Credit Suisse Group AG to its Zurich rival UBS Group AG, the Swiss government pledged to make as much as 109 billion francs available — a hefty burden for the country of 8.7 million people.

https://www.bloomberg.com/news/articles/2023-03-21/swiss-brace-for-credit-suisse-bailout-costing-them-13-500-each

Submitted March 22, 2023 at 09:00PM by biba8163 https://bit.ly/42uw3fX