Former Swiss Finance Minister Ueli Maurer defended his role in the Swiss banking crisis, arguing against nationalizing Credit Suisse and supporting UBS's takeover as the best solution.

Former Swiss finance minister Ueli Maurer has defended his response to the Credit Suisse collapse, stating that temporary nationalisation was never a viable solution. He faced criticism for his hands-off approach and suggesting that the bank should be left alone for a while. Credit Suisse eventually merged with UBS to create a massive Swiss banking and wealth management conglomerate. Maurer maintained that the responsibility lies with management, the board of directors, auditors, financial regulators, and the Swiss National Bank.

February 04, 2024
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