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How Credit Suisse’s demise strengthens Switzerland’s place in global finance

Posted on AllSides March 23rd, 2023
From The Center
Denis Balibouse (Reuters)

As Switzerland digested the news of Credit Suisse’s takeover by rival UBS, the headlines were unequivocally bleak. The deal is a “historic scandal,” wrote the daily Tages-Anzeiger. It marks the “end of an era,” according to Switzerland’s public broadcaster SRF. The country’s leading daily, Neue Zürcher Zeitung, found even stronger words: “A zombie is gone, but a monster has been created.” read one headline.

It is of course quite literally the end of an era when a 167-year-old banking institution that has been near-synonymous with Swiss finance ceases to exist as an...

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