Credit Suisse Fallout
Swiss Are On the Hook for $13,500 Each on Credit Suisse Bailout
- Taxpayer exposure amounts to 109 billion Swiss francs
- Despite some public anger, risk of hitting the ceiling is low
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Switzerland’s tab for shoring up its reputation as a financial center could run to 12,500 Swiss francs ($13,500) for every man, woman and child in the country.
To backstop the emergency sale of Credit Suisse Group AG to its Zurich rival UBS Group AG, the Swiss government pledged to make as much as 109 billion francs available — a hefty burden for the country of 8.7 million people.