Swiss Finance Minister Karin Keller-Sutter highlighted the debt levels in the United States and Europe as a potential risk for Switzerland and global financial stability. In an interview with Blick, she commended Switzerland’s strong financial discipline, enabling the country to navigate economic challenges amidst the pandemic and geopolitical tensions.
Minister Keller-Sutter expressed concerns over the high levels of debt in countries like France and the U.S., referring to the recent stock market fluctuations as a warning sign of potential recession. She emphasized the need for Switzerland and other nations to be wary of the risks posed by excessive debt.
The Minister also justified calls for Swiss banks like UBS to retain more capital following the collapse of Credit Suisse last year, aiming to safeguard the country’s financial system from further turmoil. This move aligns with efforts to prevent another banking crisis in Switzerland, as reported by Reuters.
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