Lower house of Swiss parliament votes to reject the CHF109bn Credit Suisse rescue package
Swiss Lower House has voted to retrospectively reject the 109bn CHF rescue package for CS.
- On Tuesday the upper house approved the package
Uh -oh.
Given the divergent votes between the upper and lower houses the bill will now enter a period of negotiation in a joint conciliation committee (made up of members from both chambers) to try to reach an agreement on a compromise that would pass both houses. If an agreement cannot be reached, or votes on the compromise fail, the bill fails.
The long story short though is that the funds are already committed and MPs cannot overturn the decision.
This article was written by Eamonn Sheridan at www.forexlive.com.from Forexlive RSS Breaking News Feed https://ift.tt/HStIvGl
Analytic Dave
AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.
