Swiss lawmaker - merger of UBS and Credit Suisse enormous risk for Switzerland

UBS's takeover of Credit Suisse creates an enormous risk for Switzerland, Roger Nordmann, leader of the Social Democrats in the Swiss parliament, said on Monday.

"The new UBS is also another massive risk – it's going to have more than 1,500 billion francs in assets, and it's simply too big for Switzerland," he told Reuters.

The Social Democrats are the second biggest party in the Swiss parliament and have two ministers in the country's ruling cabinet.

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