How secretive Swiss sought to keep a lid on the Credit Suisse crisis

A Swiss parliamentary inquiry revealed that secret meetings and mistrust among officials hampered the government’s response to Credit Suisse’s 2023 collapse. Undocumented “non-meetings” and downplaying of the bank’s problems left key ministers uninformed, hindering preparations for the eventual UBS takeover. This secrecy, intended to protect Switzerland’s reputation as a financial haven, ultimately contributed to the crisis. A Swiss parliamentary inquiry revealed that secret meetings and mistrust among officials hampered the government’s response to Credit Suisse’s 2023 collapse. Undocumented “non-meetings” and downplaying of the bank’s problems left key ministers uninformed, hindering preparations for the eventual UBS takeover. This secrecy, intended to protect Switzerland’s reputation as a financial haven, ultimately contributed to the crisis.  Economic Times