The emergency call came at 4 p.m.: That was what happened behind the scenes during the bank quake – a drama in 7 acts
It’s like a secret service thriller, and it’s true: journalists from the “Financial Times” learned all the details of how the forced merger of CS and UBS was engineered and pushed through by the authorities. The code word for UBS was “elm”, that for CS “cedar”. Now, despite the “top secret” status, everything is leaking out.
Soon not only next to each other, but also with each other. The mega deal sealed the end of Credit Suisse in its current form.
Bld: Keystone
It is a piece of Swiss economic history that was written on Sunday. The Swiss authorities kept their mouths shut, and yet Switzerland and the world are now finding out via London what was going on behind the scenes.
