The fall of Credit Suisse must be carefully analyzed before any decision to tighten the regulation of banks. This is the opinion of Monika Rühl, director of Economiesuisse.
“We are still angry, irritated and frustrated by what happened,” said Monika Rühl in an interview with Freedom released on Saturday. Despite all the legitimate irritation, we must avoid making hasty decisions, ”adds the director of the umbrella company.
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It is counting on the reports that the Federal Council will have to deliver at Parliament’s request to draw up an initial analysis. Which should happen within a year. But she calls on politicians to be careful: “There is no point in strengthening regulation in Switzerland without looking at what is being done elsewhere.”
“Our credibility is at stake”
“UBS is the country’s international bank par excellence, so it shouldn’t be regulated differently here,” adds Monika Rühl. For her, requiring 20% equity makes no sense in a global economy. “Deciding in haste and in isolation would have repercussions on the system that we do not control,” warns the director.
For her, this banking crisis has tarnished the image of Switzerland abroad. “It is very concerning, because our credibility is at stake.” Monika Rühl fears that Switzerland will withdraw into itself. According to her, liberal principles remain “a very good recipe”.
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