No important events are expected today.

Fears around bankruptcy of Swiss bank Credit Suisse have come to naught as regulators have prepared a rescue plan for one of the largest credit institutions in Europe. It’s a positive signal for the European currency as Credit Suisse’s counterparties are all biggest banks of the Eurozone and its bankruptcy will lead to a collapse of the EU’s banking system.

The largest Swiss bank UBS bought Credit Suisse at the insistence of Swiss regulators. Thus, the crisis in the European banking sector is likely to be postponed till the autumn when the problems of the Italian and Greek banks “will appear”.

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