Switzerland risks becoming ‘financial banana republic’ – industry expert ...News

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Switzerland risks becoming ‘financial banana republic’ – industry expert
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The banking crisis has shattered the country’s reputation as a pillar of the Western financial system, CEO of Opimas claims The troubles of once-major Swiss investment bank Credit Suisse is undermining Switzerland’s reputation as a global financial hub, says Opimas CEO Octavio Marenzi, as cited by CNBC on Tuesday. His warning follows a historic takeover of Credit Suisse by the UBS Group, its domestic rival. On Sunday the two banking giants announced a Swiss-government-brokered deal aimed at shoring up public confidence in the Western financial system and at averting a global crisis. UBS agreed to acquire the embat

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