Credit Suisse a bank which ‘should be too big to fail’

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Sky News Business Editor Ross Greenwood says there was a “bit of panic in the air” last night after shares of Credit Suisse plunged by more than 20 per cent.

“This is what’s known as a global systemically important bank – in other words, a bank that should be too big to fail,” Mr Greenwood told Sky News host

Sharri Markson.“And that’s the reason why the national bank of Switzerland stepped in, and effectively underwrote this bank by giving it access to capital.”

 

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