devastated in the early months of the war. # i ll take the world apart to find a place for a peaceful heart. and we hear from yusuf cat stevens about music, faith and performing at glastonbury. it s 7am in singapore, and midnight in switzerland where the government has reached an emergency deal with the country s biggest bank, ubs, to take over its troubled rival credit suisse. the annoucement comes just before global financal markets open on monday, in an attempt to settle nerves in the global financial sector. credit suisse has seen its value plummet over the last week due to fears about the company s financial health. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. here s the swiss president alain berset speaking at a press conference earlier. on friday the liquidity and volatility showed it was no longer possible to restore the necessary confident and that the swift and stabilising solu
has gone down because of years and years of bad management and a badly run bank. ~ ., ., i. years of bad management and a badly run bank. ~ ., ., ,, , ., ., run bank. who do you blame for the financial global run bank. who do you blame for the financial global sector run bank. who do you blame for the financial global sector being - run bank. who do you blame for the financial global sector being in - financial global sector being in this situation? we heard president joe biden earlier saying they are going to look at some of the managers of this bank. do you think thatis managers of this bank. do you think that is the crux of the problem? it s very easy to blame it on rising interest rates, because the global inflation issue has caused central banks around the world, the federal reserve and others, to tighten up interest rates. once you raise interest rates. once you raise interest rates, all things start to get scrutinised very carefully because people are being more careful where