Credit Suisse rescue package rejected by Swiss parliament

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Updated: Apr 12, 2023, 13:01 GMT+00:00

ZURICH (Reuters) - Switzerland's parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion)in financial guarantees in a largely symbolic vote as the government commitment, made using emergency law, can not be overturned.

Swiss parliament debates Credit Suisse rescue

ZURICH (Reuters) – Switzerland’s parliament on Wednesday rejected a Credit Suisse rescue package that included 109 billion Swiss francs ($120.87 billion)in financial guarantees in a largely symbolic vote as the government commitment, made using emergency law, can not be overturned.

Although parliament’s upper house earlier on Wednesday retrospectively approved the measures, the lower house rejected them for the second time after already voting against them on Tuesday.

($1 = 0.9018 Swiss francs)

(Reporting by Noele Illien; Editing by Tomasz Janowski)

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