First Battle on Glass-Steagall in Swiss Parliament Next Week

The Swiss Federal Parliament will gather in a three-day joint session of the National Council and Council of States in the week after Easter, to discuss the Credit Suisse debacle. Since the government organized a bailout under emergency rule, it is not possible to reverse the decision, but the Parliament wants to set rules for future emergencies. Thomas Minder, independent member of the Council of States (Ständerat) has announced that he will launch a motion calling for breaking up UBS and for a bank separation regime. Minder had already supported the bank separation law pushed by the Swiss People’s Party (SVP) and the Social Democrats (SP) back in 2014.