Market ‘not completely convinced’ this is over: UBS takeover of Credit Suisse

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European Central Banks are reaffirming the rights of bondholders after Swiss authorities approved the UBS takeover of Credit Suisse.

The Australian government is hopeful the rescue plan will calm concerns at home and potentially see the end of rate rises brought forward.

The Motley Fool Chief Investment Officer Scott Phillips said it’s “only doing as much as it can probably do”. “The scarier question is, what would’ve happened had the central banks both in the US and in Europe done nothing,” Mr Phillips told Sky News Australia.

 

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