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Swiss citizens think a large Swiss bank will fail

This comes from French-language Swiss daily Le Temps:

Over 50% of respondents in Geneva surveyed by the HEG School of Management believe that the bankruptcy of a large institution is likely.

The Swiss political world is clearly convinced that it will never let one of the major banks in the country go bankrupt. Despite the rescue of UBS by the Swiss Confederation and the Swiss National Bank (SNB), 53% of the approximately 550 people surveyed by the Haute Ecole de Gestion (HEG) in Geneva in the first quarter 2009 estimate it “likely” that a major bank will declare bankruptcy. This proportion was only 37% last June.

Clearly either the citizens have it wrong or Switzerland is in big trouble. Along those lines, I have another poll for you (click through to the site to vote): Will Citigroup eventually escape this crisis without a drastic reduction in size?

[poll id="7"]

Let us know what you think.

About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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