In an interview with Tamedia newspapers, the former finance minister deplores that the mandate of the parliamentary commission of inquiry obscures the decisive period which preceded the worsening of the crisis as well as the international dimension.
Former Finance Minister Ueli Maurer is critical of the report of the parliamentary commission of inquiry into the takeover of Credit Suisse by UBS. In an interview with Tamedia newspapers, the former federal councilor declared that it was clear from the creation of a CEP and also during his hearing that he would be the scapegoat.
According to the Zurich resident, now 74 years old, the mandate of the parliamentary commission of inquiry (CEP) obscures the decisive period which preceded the worsening of the crisis as well as the international dimension. “The CEP has only examined what could have been done differently at national level in recent weeks,” added Ueli Maurer.
And remember that at the beginning of the 2020s, the covid crisis had pushed the world to the brink of financial crisis. This made the situation extremely dangerous, according to Mr. Maurer. “We had to do everything possible to avoid an international financial crisis. If we focus only on Switzerland and the last weeks of the SC, we do not do justice to this situation,” he continued.
The former federal councilor rejects accusations that he hid from the Federal Council, and in particular from his successor, current Finance Minister Karin Keller-Sutter, the seriousness of the situation before the crisis broke out: “I did not hide anything, but I only informed orally. I would do exactly the same thing.”
Fear of a leak
-“It was necessary. And it was right. Because there was the risk that a CS crash could trigger a global banking crisis like in 2008,” specifies the former UDC minister.
Ueli Maurer emphasizes that he always informed the Federal Council of everything that he himself knew. But only orally, because he did not trust the administration. The risk of the CS collapsing due to a leak was very high, he said. With consequences for the Swiss financial center as well as foreign financial centers.
The CEP report simply “obscured this aspect”, affirms Ueli Maurer. Furthermore, the Federal Council would not have had a legal basis to intervene without a request from the bodies concerned.
Ueli Maurer had until now remained silent about the report published on December 20 last year. He said the same day that he first wanted to read it in detail.
