The Swiss parliament rejected a rescue package for Credit Suisse that included financial guarantees worth 109 billion Swiss francs ($120.87 billion), in a largely symbolic vote, as the government's commitment to using the emergency law cannot be revoked.
Although the upper house of parliament approved the measures retroactively, the House of Representatives rejected them for a second time after voting against them.
Swiss Finance Minister Karin Keller-Sutter had confirmed that the state-sponsored takeover of Credit Suisse by UBS in a multi-billion dollar deal should proceed smoothly without political hurdles.
Source (Al-Arabiya.net Website, Edited)
