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Swiss bank UBS announces takeover of Credit Suisse

March 20, 2023

The deal comes amid fears that an ongoing banking crisis could destabilize the global financial system. Switzerland is preparing emergency measures to fast-track the takeover and UBS will receive liquidity assistance from the state.

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Recep Tayyip Erdogan, president of Turkey and Leader of Justice and Development Party (AKP) addresses the crowds gathered near his home at Kisikli village of Uskudar in Istanbul, Turkey.
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