Credit Suisse banking crisis: Nothing is okay – economy

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Meike Schreiber, Frankfurt

There are events that divide life into before and after. Also in economic life: The rescue of the Swiss Credit Suisse in the past week and a few days before the collapse of several US regional banks are definitely part of it. Within a few days, the financial world scraped past a core meltdown. Only the state-guaranteed emergency takeover of Credit Suisse by rival UBS and the intervention of the US government contained a massive crisis of confidence for the time being.

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