Western banking system in turmoil as Credit Suisse salvaged by govt deal

Shares in European banks have plummeted as Credit Suisse was bought by its domestic rival, UBS, in a government-backed rescue deal. Shares of UBS, in particular, dropped 16 percent following the purchase, which is the bank’s biggest one-day fall of market value since the 2008 financial crisis. The move was designed to protect the Swiss economy by reinforcing financial stability. <br> <br>We discussed this issue with RT contributor Chris Emms. <br> <br>------------------------------------------------------------------------------------------- <br>Freedom over censorship, truth over narrative. <br>Follow us on Facebook: https://www.facebook.com/RTnews <br>Follow us on Telegram: https://t.me/rtnews <br>Follow us on Twitter: https://twitter.com/RT_com