Swiss National Bank central banker Thomas Jordan said that the bailout of Credit Suisse last March had prevented a global financial meltdown, speaking at a Nov. 1 event in Bern.
“The SNB’s willingness and ability to provide liquidity was crucial in managing the acute crisis at Credit Suisse and thus in avoiding a financial crisis with serious economic consequences for Switzerland and the rest of the world,” said Jordan, Chairman of SNB’s Governing Board, according to Reuters.
