OTS: Börsen-Zeitung / silent partial nationalization, commentary on Credit Suisse … | news

OTS: Börsen-Zeitung / silent partial nationalization, commentary on Credit Suisse … |  news

Silent partial nationalization, Commentary on Credit Suisse by Daniel


Zurich (ots) – The largest shareholder of Credit Suisse is with a stake of

9.9 percent recently the Saudi National Bank. It mostly belongs to him

Saudi royal family or the state institutions of the

sheikdom. This fact can be disturbing for good reasons. The of

Societal values ​​upheld by Saudi Arabia and derived from them

namely, the country’s political actions have little to do with the democratic

Value system of Switzerland or generally with the value system of the western world


However, this moral criticism is dubious insofar as it is based solely on the credit

Suisse refers. The Saudis’ petrodollars are stuck in numerous, after all

well-known companies in almost all western industrialized countries: in the American

Delivery service Uber, in the French hotel chain Accor, in the British

football club Newcastle and in the Japanese technology group Softbank.

Saudi Arabia operates one of the largest sovereign investment funds in the world,

and everywhere in the old industrial countries the capitalists say they are whole

obviously: money doesn’t stink. But they too had every reason to

Saudi investments and currently just that at Credit Suisse critically

evaluate. Basically, Credit Suisse is now a partially nationalized company

Bank. About 15 percent of the shares belong to the Sheikhs of Saudi Arabia and


As is well known, the success of a free market economy is not based on one

central plan, but on the self-interested initiative and risk-taking

many individual actors. Experience teaches us for more than one

Century that this seemingly chaotic system the best results for

bring about general prosperity.

It should make us think that the sovereign wealth funds in the world are among the largest

Investors have risen in many western economies. in the

Sovereign wealth funds closed 60 percent more transactions last year

than the average of the previous five years. The investment volume is

up to $72 billion, and it’s apparently getting broader.

Technology and consumer goods companies are now responsible for around a third

of investment by sovereign wealth funds, as reported in the International’s annual report

Forum of Sovereign Wealth Funds.

This development does not bode well for the state of market economies

according to the democratic, western cut. And sadly, that bodes well

Saudi involvement does not bode well for Credit Suisse in the long term.

That’s how the legendary Zurich politician and businessman Alfred Escher had it

certainly not imagined when he founded Credit Suisse 166 years ago

had taken in hand. The first with half German participation

The bank created was the financing vehicle for the construction of the

Swiss railway network and a kind of monument to those liberal circles who

founded modern Switzerland in 1848. Had to take place these days

Saudi Arabia the Swiss state with 9.9 percent of Credit Suisse

involved, there would be a national outcry on both the left and the right

political camp – and rightly so.

Press contact:

Stock exchanges newspaper

editorial staff

Phone: 069–2732-0


Further material: http://presseportal.de/pm/30377/5377962

OTS: Börsen-Zeitung

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