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Credit Suisse Bailout Means Swiss Citizens Face $13,500 Liability Each

Photo by Henrique Ferreira on Unsplash

Switzerland’s tab for shoring up its reputation as a financial center could run to 12,500 Swiss francs ($13,500) for every man, woman and child in the country.

To backstop the emergency sale of Credit Suisse Group AG to its Zurich rival UBS Group AG, the Swiss government pledged to make as much as 109 billion francs available — a hefty burden for the country of 8.7 million people.

Source : Credit Suisse Bailout Means Swiss Citizens Face $13,500 Liability Each

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