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A very Swiss identity crisis
The country’s sense of self as a haven for the world’s money and a beacon of neutrality is being shaken
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The folding of Credit Suisse into its bigger rival UBS shocked many around the world and raised questions about the stability the Swiss system sells itself on.
PHOTO: REUTERS
Sam Jones
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“No one becomes a murderer more easily than a fatherland,” wrote Friedrich Durrenmatt, Switzerland’s national playwright.
Earlier in March, the country killed one of its own. At a hastily convened press conference in the capital Bern on a Sunday evening, the government and regulators announced Credit Suisse’s 167-year run folded into its bigger rival UBS.
