Fears of another 2008-style banking crisis resurfaced this week after banking giant UBS swept in to buy its crisis-hit rival Credit Suisse and US authorities stepped in to broker a 24.7bn rescue package for First Republic.Stock markets have been jittery amid worries that isolated failures could widen to affect the global banking system, reviving bad memories of the financial crisis that plunged many Western economies into recession in 2008-09.
#back #years #san-francisco #authorities #switzerland #developments #past-decade #monday-morning #sunday-evening #money-laundering
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