regulator, credit suisse and by ubs. the federal council has every confidence that in this difficult situation, the takeover of credit suisse ubs is to restore the confidence that has been lacking recently and for best managing the risk to our country and its citizens. our geneva correspondent imogen foulkes explains the significance of this merger on the global stage. it is early days. but i don t think it is going to be easy. ubs is the bigger of the two but both of them are already huge. if you lookjust in switzerland, both of them have at least one branch, or more in a big city like bern, but at least one branch in every town. so we are looking certainly at probably thousands ofjob losses,
china poses the greatest threat to us interests at a time when another country, russia, just invaded its neighbour. he does say it is the greatest long term concern, and i think that is a true statement. if you lookjust at gdp, for example, china s is ten times that of russia s, and sort of notwithstanding russia s nuclear arsenal, it is, i think, in most people s views, a declining power. mr blinken says we are not in a cold war with china, we don t want a cold war with china. what do you make of that remark? so, i think, to be fair, he says we do not want a conflict with china i am not sure that today he actually said we do not want a cold war with china . they are not going to frame it the us administration isn t going to frame it as a cold war but, i think, just reading through the speech, it does bear a striking resemblance