The rescue of Credit Suisse by UBS and moves by central banks to bolster global banking sector liquidity should calm the market. But there’s a risk fear feeds on itself.
UBS chairman Colm Kelleher couldn’t have said it any better.
“It’s a historic day in Switzerland and a day frankly, we hoped would not come.”
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
