The Swiss parliament wants to examine closely whether everything was right when the state ordered UBS to take over Credit Suisse in March.
Credit Suisse’s days are truly numbered. On June 12, early next week, the once second largest Swiss bank will be history – at least as an independent institution. The takeover by UBS will be completed on that day and Credit Suisse shares will be withdrawn from trading accordingly. This is a turning point for Switzerland, this traditional banking center. It is therefore not surprising that Parliament in Bern wants to examine the memorable circumstances that led to the merger of the country’s two remaining major banks.