Credit Suisse rescue package rejected by Swiss parliament

Wednesday, 12 April 2023 06:19

The hastily constructed rescue package offered recently to the now failed bank Credit Suisse was the topic of conversation for Switzerland’s parliament yesterday.

The lower house of parliament voted Tuesday to retrospectively reject the rescue package offered to the bank.

The vote was largely symbolic as the state has already committed the funds to Credit Suisse. Lawmakers are unable to overturn that decision, despite this vote.

In an extraordinary government session called to discuss the bank’s demise, 102 parliamentarians voted against the measure.

Earlier on Tuesday, Switzerland’s upper house voted in favour of the government’s guarantees.

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