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Parliament wants banking inquiry

Tuesday, 28 March 2023 06:30

Parliament is calling for a formal inquiry into the collapse of Credit Suisse and its merger with UBS – but the Federal Council says it’s unnecessary.

The lower house, the National Council, decided unanimously to set up a Parliamentary Commission of Inquiry. It will now go to the Council of States where the motion is expected to pass. 

The Finance Minister, Karin Keller-Sutter, has spoken out against the move. 

The government is unable to stop an inquiry if parliament votes for one. Setting up a commission is one of parliament’s most powerful instrument to hold the government to account. 

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