© Reuters. FILE PHOTO: The logo of Credit Suisse bank is seen outside its office building in Hong Kong, China March 20, 2023. REUTERS/Tyrone Siu/File Photo
BERN (Reuters) – The lower house of Switzerland’s parliament voted late on Tuesday to retrospectively reject the 109 billion Swiss francs of financial guarantees the government gave to Credit Suisse (SIX:) as part of a hastily cobbled-together rescue package.
At an extraordinary government session called to discuss Credit Suisse’s demise, 102 parliamentarians voted against the measure. Earlier on Tuesday, Switzerland’s upper house voted in favor of the government guarantees.
The votes are, however, largely symbolic as the state has committed the funds and lawmakers cannot overturn that decision.
