Reported about 6 hours ago
Former Swiss Finance Minister Ueli Maurer expressed concerns that UBS has become too large for Switzerland after its acquisition of Credit Suisse, emphasizing the need to mitigate associated risks. With UBS's balance sheet standing at approximately $1.7 trillion, double that of Switzerland's annual economic output, Maurer highlighted the potential dangers if the bank were to fail, noting a lack of local alternatives to absorb its losses. He called for shareholders to take responsibility and for legislative measures to be considered to improve financial stability.
Source: YAHOO