The Credit Suisse takeover by bigger rival UBS, with guarantees from the federal government, was the best option in the circumstances, says Finance Minister Karin Keller-Sutter. "All other options were, in our opinion, riskier for the state, the taxpayer, the Swiss financial centre and the international markets,” she told the NZZ newspaper in an interview published on Saturday. Even if UBS "was certainly not in a weak position", it did not dictate its conditions, she said. Last weekend’s dramatic takeover of troubled Credit Suisse for a knockdown price under a government-backed deal has drawn public anger. A survey conducted by the gfs.bern research institute for the Swiss Broadcasting Corporation (SBC) – SWI swissinfo.ch’s parent company – published on Friday found that 66% of Swiss citizens are angry and 60% feel insecure following the bank rescue. + Read why a monster UBS bank scares Switzerland Switzerland’s "too big to fail" law does not easily lend itself to the...
