off-the-wire

Switzerland: no legal effect from parliament's rejection of UBS credits

Kitco Media
By Reuters
Published:
Updated:
Reuters

BERLIN, April 19 (Reuters) - The Swiss government said on Wednesday that the lower house of parliament's votes rejecting emergency guarantee credits for the Swiss National Bank and UBS (UBSG.S) do not have any legal effect on the country's commitments.

"However, the Federal Council will give the fullest consideration to Parliament's position in its future work and decisions," said the council in a statement.

Writing by Miranda Murray, Editing by Friederike Heine
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