Alain Berset, president of the Swiss Federation, said on Sunday that the Swiss bank Credit Suisse has purchased over EUR 3 billion. Throughout the weekend, Swiss authorities and bank officials have worked to resolve the failure of Credit Suisse.
Berset announced at a press conference that the Government of Switzerland, the National Bank of Switzerland and the Swiss Financial Market Supervisory Authority (FINMA) have decided that there is a situation of instability and lack of confidence in the organisation and that "UBS will help purchase Credit Suisse", according to the new EFE agency. "If he had not taken that decision, it could have unpredictable consequences on the international financial system," said the President of the Swiss Federation.
Minister Keller-Sutter has stated that the defeat of Credit Suisse would have "irreparable consequences" not only for Switzerland, but also for the rest of the world's banks. Credit Suiss President Axel Lehmann also reaffirmed that the "extraordinary and unprecedented" situation makes the decision taken the "best" result.
Credit Suisse is the second largest bank in Switzerland. But last Friday, after the defeat of Silicon Valley Bank, it lost over 30 percent of its stock market value.
A team of researchers led by the Japanese archaeologist Masato Sakai of the University of Yamagata has discovered numerous geoglyphs in the Nazca Desert (Peru). In total, 303 geoglyphs have been found, almost twice as many geoglyphs as previously known. To do so, researchers... [+]
It was impossible to guess who was or who was the motto I read, but who was!
Ángel González Olvera was known in Mexico 11 years ago when the bertsolaris invited us to a few days with their improvisers. He lived on a high hill, feeding on birds, pigeons, pigeons, hedgehogs,... [+]
Born 2 October 1968. A few months earlier, the student movement started on June 22 organized a rally in the Plaza de las Tres Cultura, in the Nonoalco-Tlatelolco unit of the city. The students gathered by the Mexican army and the paramilitary group Olympia Battalion were... [+]
The responsibility lies with the Zionist State of Israel, which, with the help of a large part of the population, soldiers, settlers, etc., is doing ethnic cleansing and genocide against the countries and peoples around it.
Western states also support them, give them weapons... [+]