Swiss lawmakers gather to discuss Credit Suisse rescue
Frustration grows over use of state funds
Lawmakers protest but cannot overturn deal
BERN, April 11 Reuters Since Switzerland39;s authorities last month pulled out all the stops to rush through a rescue of Credit Suisse, a storm has been brewing in the normally tranquil country.
Many Swiss parliamentarians have criticised the shotgun marriage, which saw Credit Suisse taken over by rival UBS for 3 billion Swiss francs 3.3 billion and propped up with over 250 billion francs in guarantees and support.
On Tuesday, they will meet in Bern for an extraordinary session to discuss Credit Suisse39;s downfall as well as the government39;s open chequebook response.
The unusual event the third such session in over twenty years provides parliament with a chance to reject the massive loans given as part of the rescue package.
The vote is, however, largely symbolic as the state has already committed the funds and lawmakers cannot overturn that decision.
In the leadup to the announced merger, a subgroup of six members of parliament approved the financial commitment on behalf of the legislative body, to the ire of the almost 250 lawmakers left without a say.
It39;s the responsibility of politics to have a say especially when such a big contribution is being made by state and emergency law is being used, said Celine Widmer, a member of the Swiss National Council for the leftleaning Social Democrats.
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