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CNN —Norway’s King Harald has had a temporary pacemaker fitted at a hospital in Malaysia after falling ill on holiday there. His transport will be facilitated by The Norwegian Government, while the Norwegian Armed Forces are responsible for the practical arrangements for his return to Norway, the royal household noted. The king, who was on holiday, fell ill with an infection earlier in the week. He has been king of Norway since 1991, and is Europe’s oldest monarch. His next official engagement, where he is due to preside over the Council of State at the Royal Palace, is scheduled to take place on March 8, according to the royal household’s website.
Persons: CNN — Norway’s King Harald, Maliha Organizations: CNN, The, The Norwegian Government, Norwegian Armed Forces, of State Locations: Malaysia, Langkawi, Norway, The Norwegian
But this sharp increase “likely reflects changes in surveillance methods rather than change in disease risk,” according to the CDC. The vast majority of Lyme disease cases in the US are reported from just over a dozen jurisdictions in the Northeast, mid-Atlantic and upper-Midwest where ticks are particularly prevalent. Despite the significant spike, the number Lyme disease cases that are reported to the CDC is just a fraction of the estimated number of total cases. There are about 476,000 estimated diagnoses of Lyme disease in the US each year – nearly eight times more than even the improved surveillance methods captured in 2022. Lyme disease is the most common vector-borne disease in the US, along with Zika virus, West Nile virus, dengue, malaria, plague, Rocky Mountain spotted fever and alpha-gal syndrome.
Persons: Lyme, , Dr, Sanjay Gupta, Organizations: CNN, US Centers for Disease Control, CDC, of State, Territorial, Get CNN, CNN Health, US Department of Health, Human Services, HHS Locations: United States, Northeast, Lyme
Low-income mortgage borrowers could get a $2,500 homebuyer credit through Fannie Mae or Freddie Mac. Major mortgage investors Fannie Mae and Freddie Mac are temporarily offering a $2,500 credit to very low-income homebuyers to help offset their down payment and closing costs. The Fannie Mae credit is available through the company's HomeReady program, while people can get the Freddie Mac credit through its Home Possible program. Both Fannie Mae and Freddie Mac have tools that let you see the area median income in a given location. How the $2,500 credit worksIf you qualify for this credit, you'll get the $2,500 through your lender, which Fannie Mae or Freddie Mac later reimburses the lender when your loan is sold.
Persons: Fannie Mae, Freddie Mac, , Freddie, Fannie Mae's, Freddie Mac's, it's, you'll, Fannie, Eileen Tu, Cyndi Danko, You'll Organizations: Service, Rocket Mortgage, National Council of State, Agencies
HAVANA (Reuters) - Cuban president Miguel Díaz-Canel sacked economy minister Alejandro Gil on Friday, state media reported, as controversy continued to grow over the delay of recently announced measures to hike the price of fuel and transportation fares in the communist-run country. The Council of State, under Diaz-Canel`s direction, has appointed Central Bank president Joaquín Alonso, 60, to replace Gil. The upheaval comes just two days after the government put off an unpopular five-fold hike in gasoline prices planned for Feb. 1, saying a cyberattack from outside Cuba had thwarted implementation. Former economy minister Gil had advocated for the unpopular plan to raise prices for many government subsidized services, and has long been criticized for his management of the country`s near-bankrupt economy. Gil's planned price hikes, initially announced in December and early January, rocked Cuba, where residents have long depended on a vast program of state subsidized food, fuel and medicine.
Persons: Miguel Díaz, Canel, Alejandro Gil, Diaz, Joaquín Alonso, Gil, Elba Rosa Perez, Eduardo Martinez, Alberto Lopez, Manuel Santiago Sobrino, Nelson Acosta, Dave Sherwood, Kirsten Donovan Organizations: of State, Central Bank, Technology, Food Industry Ministry Locations: HAVANA, Cuban, Cuba, Santa Clara
RALEIGH, N.C. (AP) — North Carolina has joined a nascent nationwide effort to improve outcomes for more prisoners who return to society through an approach focused on education, health care and housing. More than 18,000 people are released annually from the dozens of North Carolina adult correctional facilities, the order says, facing obstacles to a fresh start from their criminal record. The council said that North Carolina is the third state to officially join Reentry 2030, after Missouri and Alabama. And Greg Singleton, a continuing-education dean at Central Carolina Community College in Sanford, is himself an ex-offender, having served four years in prison in the 1990s. “What if God didn’t give second chances — where would any of us be?” Singleton asked.
Persons: Roy Cooper, ” Cooper, , Todd Ishee, Cooper, Joe Gibbs, Greg Singleton, didn’t, ” Singleton, Organizations: , Gov, Council of State Governments, Transportation Department, of Health, Human Services, Republican, Assembly, NASCAR, Super Bowl, Life, Central Carolina Community College Locations: RALEIGH, N.C, — North Carolina, North Carolina, Missouri, Alabama, Carolina, Sanford
CNN —For many in Denmark, Queen Margrethe II is the only monarch they’ve ever known. But on Sunday, a new era will get underway when she hands over to her son, Crown Prince Frederik. This means that she will be able to perform duties as head of state when both King Frederik or Crown Prince Christian are not able, such as if they were overseas. King Frederik X will rule alongside his Australian-born and hugely popular wife, Queen Mary – which will undoubtedly delight her proud admirers back home. “The story of Crown Prince Frederik and Crown Princess Mary of Denmark is one Australians have followed closely and hold dear to their hearts,” he said in a statement on Saturday.
Persons: Queen Margrethe II, they’ve, Crown Prince Frederik, King Charles III’s, of, Martin Sylvest Andersen, Frederik, Mary, Christian, Frederik VIII’s Palace, Margrethe, Kongens, Jørgen’s, King Frederik X, Queen Mary, King Frederik, Prince Christian, Frederik’s, Prince Joachim, Princess Benedikte, Mette Frederiksen, Frederik VIII, X, Christiansborg, Sixtus, Mads Claus Rasmussen, Ritzau Scanpix, Trine Villemann, Jens Otto Krag, Margrethe II, , Birgitte Borup, Berlingske, , Danes, King Eric III, Borup, Queen Mary –, Mary Elizabeth Donaldson, Justin Tynan, King, Queen of, Anthony Albanese, Prince Frederik, Crown Princess Mary of, MADS CLAUS RASMUSSEN, Isabella, Vincent, Josephine, Mary’s, she’s Organizations: CNN, Guard, Squadron, State, Danish Royal House, Danish, Getty, , Danes, British Locations: Denmark, Danish, Europe, Christiansborg, Copenhagen, of Denmark, Greenland, Faroe, Amalienborg, Frederiksgade, d’Angleterre, Holmens, Holmen, AFP, Sydney, Hobart , Tasmania, Darling Harbour, Queen of Denmark, Crown Princess Mary of Denmark, Tasmania, Australia
Denmark's King Frederik X ascended the throne on Sunday, succeeding his mother, Queen Margrethe II, who formally abdicated after 52 years as monarch, with big crowds gathered in the capital to witness history. The new king was later proclaimed by Prime Minister Mette Frederiksen on the balcony of the parliament, Christiansborg castle, with the words "Long live King Frederik the 10th." It is a task I take on with pride, respect and joy," Frederik said in his first speech as king from the balcony overlooking large crowds of cheerful people. The new king and queen later rode by horse carriage through packed crowds in the streets of Copenhagen back to their residence, Amalienborg, a royal complex built in the 1750s and located in central Copenhagen. The new king and queen take the throne at a time of huge public support and enthusiasm for the monarchy.
Persons: Denmark's King Frederik X, Queen Margrethe II, Margrethe, Mette Frederiksen, King Frederik the, Frederik, Mary, Princess Isabelle, Princess Josephine, Prince Vincent, Kasper Wiigh Larsen, Danes Organizations: of State Locations: Danish, Denmark, Christiansborg, Copenhagen, Amalienborg
Denmark Awaits New King, as Queen Margrethe to Bow Out
  + stars: | 2024-01-13 | by ( Jan. | At P.M. | ) www.usnews.com   time to read: +3 min
People from all over Denmark are expected to crowd Copenhagen in a sign of the huge popularity the monarchy is enjoying. "It could be that she thinks Prince Frederik is prepared to take over now," said Lars Hovbakke Sorensen, a historian and associate professor at University College Absalon in Denmark. "He's 55, and maybe the queen wanted to avoid a situation where you would have a very, very old king, as you saw with Prince Charles." The British king was 73 when he ascended the throne after his mother Queen Elizabeth died in September 2022 aged 96. The new Danish royal couple will take the throne at a time of huge public support and enthusiasm for the monarchy.
Persons: Stine Jacobsen, Johannes Birkebaek COPENHAGEN, Margrethe II, Denmark's, Frederik, Danes, Margrethe, It's, Anna Karina Laursen, Hans Christian Andersen, Mary, Royce, Christian, Mette Frederiksen, Klaus Johansen, Prince Frederik, Lars Hovbakke Sorensen, Prince Charles ., Queen Elizabeth, Johannes Birkebaek, Jacob Gronholt, Pedersen, Frances Kerry Organizations: of State, Reuters, ROYAL POWER, University College Absalon, Danish Locations: Copenhagen, Danish, Denmark, Britain
Brisbane, Australia CNN —The fairy tale rise of an Australian sales executive to the upper ranks of European royalty is set to be completed Sunday when Crown Princess Mary Elizabeth of Denmark becomes the country’s Queen Consort. Margrethe’s eldest son, Crown Prince Frederik, will become King, while his wife, Crown Princess Mary, will become the first Australian to become Queen, a development that has delighted her supporters back home. Crown Prince Frederik of Denmark and Australian born Crown Princess Mary Elizabeth Donaldson married in May 2004. I will hand over the throne to my son Crown Prince Frederik,” Margrethe said. Danish Crown Princess Mary photographed during the Copenhagen Fashion Week Autumn/Winter 18 on January 30, 2018 in Copenhagen, Denmark.
Persons: Crown Princess Mary Elizabeth of, Consort, Queen Margrethe II, It’s, hasn’t, King Eric III, Margrethe’s, Crown Prince Frederik, Crown Princess Mary, it’s, King, Mary, Prince Frederik of Denmark, Princess Mary Elizabeth Donaldson, Bjarke, Jeremy Rockliff, Princess Mary, , King Frederik, ” Rockliff, Prince Christian, , , Queen of, Prince Frederik, ” Margrethe, ” Kristian Ring, Hansen Holt, Juliet Rieden, Margrethe, Queen Elizabeth II, Queen Margrethe, Reiden, Prince Joachim, Princess Marie, didn’t, Rieden, Frederik, she’d, Christian Vierig, She’s, she’s, Prince Frederik’s, Genoveva Casanova, Casanova, , Britain’s King Charles III, ” Reiden Organizations: Australia CNN, Crown, Royal House, Getty Images Tasmanian, CNN, Ukraine, ABC, Australian, Monarchs, Copenhagen Cathedral, Mary Foundation, Lecturas, Royal, of State, CNN’s Royal Locations: Brisbane, Australia, Crown Princess Mary Elizabeth of Denmark, Tasmania, Denmark, Sydney, Danish, Copenhagen, Hobart, AFP, Gaza, Queen of Denmark, Scottish, British, Houston , Texas, Europe, Mexican, Spanish, Christiansborg Palace, Mary
We asked experts why recent strikes have had success and which industries could be next. AdvertisementAdvertisementIf worker movements pick up in the months and years ahead, it shouldn't be a big surprise. At the same time, an aging US population is expected to increase the demand for healthcare workers. And if the economy remains strong, he said "previously untouchable" corporations like Amazon and Starbucks could see more worker movements and unionization. But in the near term, some labor movements will likely persist even if conditions aren't perfect.
Persons: , that's, Matthew Johnson, Victor Chen, Johnson, COVID, Caroline Lucas, Dave Young, VCU's Chen, Biden —, Eunice Han, Duke's Johnson, Jake Rosenfeld Organizations: UAW, UPS, Hollywood, Healthcare, Service, Permanente, Workforce, Teamsters, Duke University, Virginia Commonwealth University, Kaiser Permanente, National Council of State, of Nursing, Coalition, Kaiser Permanente Unions, United Food, Commercial Workers, University of Utah, Research, Washington University
RALEIGH, N.C. (AP) — North Carolina State Auditor Beth Wood announced on Thursday that she will resign from her elected post next month, a decision coming two days after she was indicted on charges that she misused her state-owned vehicle for personal activities. Wood, a Democrat who was first elected auditor in 2008, had already announced last week that she wouldn't seek reelection in 2024. Political Cartoons View All 1239 ImagesWood informed Cooper of her resignation decision on Thursday afternoon, the governor’s office said. Cooper “respects her decision and thanked her for her years of service to North Carolina,” spokesperson Jordan Monaghan said in a text message. The state auditor's job is one of 10 posts within the Council of State, which also includes the governor, attorney general and other statewide executive branch officials.
Persons: Beth Wood, Wood, wouldn't, , ” Wood, Roy Cooper, Cooper, Cooper “, Jordan Monaghan, Lorrin Freeman, Les Merritt, Organizations: , Democrat, Wake, State, Democratic Gov, Auditor’s Office, of State Locations: RALEIGH, N.C, Carolina, State of North Carolina, North Carolina, Wake County, Craven
By law, an election needs to be held within 60 days of the publishing of the presidential decree dissolving parliament. "I hope that time, sooner rather than later, will allow us to clarify what happened," Rebelo de Sousa said. By calling the March election, Rebelo de Sousa also addressed the need of the PS to pick a new leader to run. Earlier, PS President Carlos Cesar said March would be the best timing, while other parties pointed to January or February. "It is urgent to reestablish trust and prestige in democratic institutions," the leader of the PSD, Luis Montenegro, said after the president announced the election.
Persons: Marcelo Rebelo de Sousa, Rebelo de Sousa, Antonio Costa, illegalities, Costa, Rebelo, Mario Centeno, Filipe Garcia, Mercados, Carlos Cesar, Andre Ventura, Luis Montenegro, Catarina Demony, Sergio Goncalves, Andrei Khalip, Marguerita Choy, Alistair Bell Organizations: Lawmakers, Socialist, Socialist Party, of State, Prosecutors, Bank of Portugal, Social Democrats, PSD, Thomson Locations: LISBON, Portugal, Portuguese, Lisbon, Belem, Europe, Western, Montenegro
LISBON (Reuters) - Nearly 70% of Portuguese voters want an early election following the abrupt resignation of the Socialist prime minister, a survey showed on Thursday, as President Marcelo Rebelo de Sousa was due to announce his decision on the matter later in the day. His office said he would address the nation after meeting his consultative body, the Council of State. PS President Carlos Cesar said on Wednesday that if the president decided to call an election, March would be the best timing. The budget includes lower income tax rates for the middle class, higher wages and social benefits. (Reporting by Catarina Demony, Patricia Rua, Sergio Goncalves, editing by Andrei Khalip and Alex Richardson)
Persons: Marcelo Rebelo de Sousa, Antonio Costa, illegalities, Costa, Correio, Rebelo de Sousa, Joao Duque, Carlos Cesar, Diogo Lacerda Machado, Catarina Demony, Patricia Rua, Sergio Goncalves, Andrei Khalip, Alex Richardson Organizations: Socialist, Prosecutors, Socialist Party, of State, Jornal de Negocios, Analysts, Lisbon School of Economics, Management Locations: LISBON, Lisbon
His office said he would address the nation after meeting his consultative body, the Council of State. PS President Carlos Cesar said on Wednesday that if the president decided to call an election, March would be the best timing. The budget includes lower income tax rates for the middle class, higher wages and social benefits. Separately, those detained in the investigation, including Costa's close friend and consultant Diogo Lacerda Machado, were due to appear before a Lisbon court on Thursday. Reporting by Catarina Demony, Patricia Rua, Sergio Goncalves, editing by Andrei Khalip and Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Antonio Costa, Pedro, Marcelo Rebelo de Sousa, illegalities, Costa, Correio, Rebelo de Sousa, Joao Duque, Carlos Cesar, Diogo Lacerda Machado, Catarina Demony, Patricia Rua, Sergio Goncalves, Andrei Khalip, Alex Richardson Organizations: REUTERS, Socialist, Prosecutors, Socialist Party, of State, Jornal de Negocios, Analysts, Lisbon School of Economics, Management, Thomson Locations: Lisbon, Portugal, LISBON
[1/4] Portugal's Prime Minister Antonio Costa attends the informal meeting of European heads of state or government, in Granada, Spain October 6, 2023. REUTERS/Juan Medina/File Photo Acquire Licensing RightsLISBON, Nov 7 (Reuters) - Portuguese Prime Minister Antonio Costa resigned on Tuesday, just hours after prosecutors detained his chief of staff in a probe into alleged corruption in his administration's handling of lithium mining and hydrogen projects. Costa, who prosecutors said was the target of a separate investigation, announced the decision in a televised statement after meeting President Marcelo Rebelo de Sousa. Over 40 searches were carried out on Tuesday at several government buildings, including Escaria's office and the infrastructure and environment ministries, the prosecutor's office said. "At stake may be ... facts capable of constituting crimes of malfeasance, active and passive corruption of politicians and influence peddling," the prosecutor's office said.
Persons: Antonio Costa, Juan Medina, Marcelo Rebelo de Sousa, Costa, Rebelo de Sousa, Vitor Escaria, Joao Galamba, Nuno Lacasta, Catarina Demony, Patricia Rua, Sergio Goncalves, Andrei Khalip, Emelia Organizations: Portugal's, REUTERS, Rights, Costa's Socialists, of State, TAP, APA, Prosecutors, Thomson Locations: Granada, Spain, Rights LISBON, Portuguese, Costa, Portugal, Sines
PARIS (AP) — President Emmanuel Macron promised on Sunday to enshrine a woman's right to an abortion in the French Constitution by next year. It was the rollback of abortion rights in the United States after the U.S. Supreme Court overturned a 50-year-old ruling last year and stripped women’s constitutional protections for abortion that propelled France on a path toward unconditionally guaranteeing such rights. By presenting its own bill, rather than one originating among lawmakers, Macron can convene a special “congress” of both houses that must adopt the amendment by a three-fifths majority, something that appears doable. The text of the bill to reconcile all sides has been in the works for months. The president said that this coming week it would be sent to the Council of State, France's highest administrative body, a necessary step.
Persons: Emmanuel Macron, Gisele Halimi, Macron, Berengere Couillard Organizations: PARIS, U.S, Supreme, of State, Locations: French, France, United States, of Versailles
Members of the National Council pose for a group picture on the last day of the legislature before national elections in October at the Swiss Parliament Building (Bundeshaus) in Bern, Switzerland on Sept. 29, 2023. Exit polls conducted for Switzerland's public broadcaster showed the country's right-wing populist party was set to further strengthen its position as the largest faction in parliament in a legislative election Sunday that saw the leading Green party lose ground. The Socialists edged up nearly a 0.5 percentage point, while the Greens lost more than 4 percentage points to fall under 10%, according to the exit poll. It appeared set to eclipse the free-market Liberal party in voter support, according to the exit poll conducted by the gfs.bern agency. The parliamentary vote is one of two main ways that Switzerland's 8.5 million people guide their country.
Persons: , Claudine Juillard, Chatelenat, Alain Berset, Viola Amherd Organizations: National Council, Swiss, Switzerland's, Swiss People's, Socialists, Greens, of States, European Union, Swiss People's Party, Christian, Democrat, Liberal, Socialist, Alpine, Federal, EU Locations: Bern, Switzerland, Poland, Geneva, Carouge, Swiss, Russia, Ukraine, United States
A top court in France on Thursday upheld a new government decree barring children in public schools from wearing the abaya, a loosefitting, full-length robe worn by some Muslim women, in a blow to critics who had called the ban discriminatory and had filed an emergency petition to strike it down. The Council of State, France’s top administrative court, which has jurisdiction over disputes concerning civil liberties, ruled that the ban was not a “serious and obviously illegal infringement of a fundamental freedom.”Wearing an abaya is part of a “logic of religious affirmation,” the court said in a statement, adding that the ban was therefore in line with a French law that “prohibits the wearing by pupils of signs or clothing ostensibly expressing religious affiliation, either in and of themselves, or because of the pupil’s behavior.”Since 2004, students have not been able to wear “ostentatious” symbols that have a clear religious meaning, like Catholic crosses, Jewish skullcaps or Muslim head scarves, in middle and high schools.
Persons: Organizations: of State Locations: France
His case on Thursday was adjourned to Nov. 30 and the trial is set to hang over the opposition as it tries to regroup and rally disheartened voters ahead of local elections in March. At the same time, calls have grown louder for the opposition's defeated presidential candidate Kemal Kilicdaroglu to resign as chairman of Imamoglu's Republican People's Party (CHP). Tanju Tosun, political science professor at Ege University, said the CHP's internal politics could overshadow its preparations for next year's local elections. "If the internal rifts within the CHP continues until local elections, candidates from the ruling AK Party (AKP) could defeat opposition candidates in many cities," he said. "YSP may field candidates (in Istanbul and Ankara)," Meral Danis Bestas, a senior YSP official, said.
Persons: Imamoglu, Tayyip Erdogan, Istanbul Mayor Ekrem Imamoglu, Erdogan, Kemal Kilicdaroglu, Kilicdaroglu, Tanju Tosun, Kemal Polat, Polat, We've, Ali Kucukgocmen, Huseyin Hayatsever, Daren Butler, Angus MacSwan Organizations: Istanbul Mayor, opposition's, Republican People's Party, Ege University, CHP, AK Party, Council of State, IYI Party, IYI, Left, Thomson Locations: Istanbul, ISTANBUL, Beylikduzu, Balikesir, Denizli, Kurdish, Ankara
It would ensure the central bank's independence and roll back measures such as allowing the cabinet to select its governor. FOREIGN POLICYIt would adopt the slogan of "Peace at Home, Peace in the World" as the cornerstone of Turkey's foreign policy. Judges' willingness to abide by Constitutional Court and European Court of Human Rights rulings would be considered when evaluating promotions. Measures would be taken to ensure courts quickly implement rulings by the two high courts. It would ensure that pre-trial detentions are the exception, a measure that critics say is abused under Erdogan's rule.
Portugal's president to address the nation after rift with PM
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +1 min
LISBON, May 4 (Reuters) - Portuguese President Marcelo Rebelo de Sousa will address the nation at 8 p.m. (1900 GMT) on Thursday, a spokesperson for the presidency said, after his rift with Prime Minister Antonio Costa increased the risk of a political crisis. The conservative president had made clear he wanted Galamba out and said he disagreed with Costa's decision after previously having warned that he could disband parliament if the government lost credibility. Costa's Socialists won an outright parliamentary majority in January 2022, but his third government in a row has been plagued by instability, although analysts see it surviving - for now at least. More than 10 ministers and secretaries of state have left their posts in the past year, at least two of them linked to scandals at airline TAP. Reporting by Sergio Goncalves; editing by Andrei KhalipOur Standards: The Thomson Reuters Trust Principles.
While the upper house approved the government's 109 billion Swiss franc ($120.82 billion) contribution to the rescue package, parliament's lower, and larger chamber, later rejected it. Seeking a compromise, the upper house passed changes to the measure on Wednesday morning, which the lower house will vote on later in the day. As they returned on Wednesday, the upper house passed changes, which include a proposal for Switzerland's federal government to draft an amendment to the country's Banking Act. Its aim would be to reduce the risks posed by systemically relevant banks, such as Credit Suisse and UBS for Switzerland, by, for example, raising capital requirements and restricting bonuses. A shotgun marriage which saw Credit Suisse taken over by rival UBS (UBSG.S) for 3 billion Swiss francs and propped up with more than 250 billion Swiss francs in guarantees and support has drawn widespread criticism.
The lower house retrospectively rejected the rescue near midnight, with heated debates continuing into the early hours of Wednesday morning as members discussed other measures related to Credit Suisse. Earlier on Tuesday, Switzerland's upper house had approved the rescue, meaning the two chambers of the legislative body will vote again on Wednesday. A poll of Swiss economists found that nearly half thought the takeover of Credit Suisse by UBS was not the best solution, warning the saga had dented Switzerland's reputation. Politicians also questioned why the Swiss financial regulator was unable to prevent Credit Suisse's failure. There are also growing worries about jobs and in an open letter to parliament, the Swiss Bank Employees' Association said that Credit Suisse and UBS must freeze any cuts.
SummarySummary Companies Swiss upper house approved Credit Suisse rescueFrustration in Switzerland over use of state fundsLawmakers have protested, but cannot overturn dealBERN, April 11 (Reuters) - Switzerland's upper house of parliament voted on Tuesday after a heated debate to approve retrospectively the 109 billion Swiss francs ($120.5 billion) in financial guarantees used to rescue Credit Suisse (CSGN.S) last month. But 29 of Switzerland's 46-member Council of States upper house approved the measure. "The use of emergency law has reached a level in the last three years that is beginning to annoy me," Hansjoerg Knecht, a member of Parliament's upper house, said. Politicians also questioned why the Swiss financial regulator was unable to prevent Credit Suisse's failure. Eva Herzog asked during a speech to the upper house.
SummarySummary Companies Swiss upper house lawmakers approve Credit Suisse rescueFrustration in Switzerland over use of state fundsLawmakers have protested but cannot overturn dealBERN, April 11 (Reuters) - Switzerland's upper house of parliament voted on Tuesday to retrospectively approve 109 billion Swiss francs ($120.5 billion) in financial guarantees used to rescue Credit Suisse (CSGN.S) after a heated debate. The Swiss parliament had recalled lawmakers for a rare extraordinary session to discuss the rapid rescue of Credit Suisse as well as the government's open chequebook response. A shotgun marriage which saw Credit Suisse taken over by Zurich-based rival UBS (UBSG.S) for 3 billion Swiss francs and propped up with more than 250 billion Swiss francs in guarantees and support has been the subject of widespread criticism. "The use of emergency law has reached a level in the last three years that is beginning to annoy me," said Hansjoerg Knecht, a member of Parliament's upper house. In an open letter to the country's parliament, the Swiss Bank Employees' Association said on Tuesday that Credit Suisse and UBS must freeze any job cuts.
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