Switzerland awoke to a new era on Monday after UBS swept up Credit Suisse in a government-brokered rescue that dented the country s long-held pride in its banking expertise.
European bank stocks and the wider market gained as investors watch whether moves to shore up banks will stem further upheaval in the global banking system.
By John O'Donnell and Stefania Spezzati LONDON (Reuters) -UBS Group has emerged as Switzerland’s one and only global bank with a state-backed rescue of