Deals

El-Erian Says Credit Suisse Deal ‘Not Clean’ But Best Option

‘Bailout’ has become bad word, everybody avoiding it, he says
‘Not good news’ if First Republic is again downgraded in US

WATCH: ‘Yeah, it was a bailout,’ Mohamed El-Erian says. ‘Of the available options, this was the best one that they could have had.’Source: Bloomberg

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By Vildana Hajric, Jonathan Ferro, and Lisa Abramowicz

March 19, 2023 at 8:38 PM UTC

Updated on

March 19, 2023 at 9:00 PM UTC

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UBS Group AG’s rushed deal to buy beleaguered rival Credit Suisse Group AG wasn’t the best solution, but was the most reasonable of the options available, says Mohamed El-Erian.