Irish Examiner view: Consumer loses out

Sale of Credit Suisse

Credit Suisse was sold to UBS.

The fallout from the demise of the Silicon Valley Bank in California continues to rain down, but we now have the added chill of another troubled bank, Credit Suisse, being sold to UBS at the behest of the Swiss government.

The two situations are not identical. SVB was little known outside the US tech industry until it entered choppy financial waters a couple of weeks ago, but Credit Suisse is a well-known pillar of the global financial community.