The PUK report on Credit Suisse's downfall has sparked a political debate in Switzerland over the need for stricter banking regulations versus reliance on responsible management. While left-wing parties advocate for tighter rules, particularly regarding UBS's influence in politics, right-wing factions blame regulatory failures on FINMA. The Federal Council is expected to propose new legislation incorporating the report's findings.
The Swiss Socialist Party demands urgent measures to mitigate the risks posed by the oversized UBS, including a ban on bonuses for executives and party financing by the bank. They argue that the current Too Big to Fail regulations are inadequate and call for increased capital requirements and a faster revision timetable to protect taxpayers from potential financial crises.
The SP Switzerland demands urgent measures to mitigate the risks posed by the oversized UBS, calling for a ban on bonuses for systemically important banks and an end to party financing by UBS. They criticize the slow revision of too-big-to-fail regulations and highlight the need for higher capital requirements and stronger oversight of financial institutions to protect taxpayers from potential crises.
The Socialist Party has proposed the nationalization of Sandoz, advocating for its purchase by the Confederation to ensure a stable supply of essential medicines amid a growing shortage. Additionally, the party aims to abolish the debt brake, arguing it exacerbates societal divisions, and has called for increased support for victims of gender-based violence. Co-president Cédric Wermuth emphasized solidarity with all victims of the Middle East conflict, advocating for peace and coexistence.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
