Credit Suisse Takeover Sends Shockwaves Through Swiss Banking Industry.

The UBS takeover of Credit Suisse has raised concerns about Switzerland's reliance on a single banking behemoth and dented its reputation as a global financial center. The uncertain future of the union of Switzerland's two global banks comes at a thorny time for Swiss identity, built nearly as much on a self-image of finesse in finance as on know-how with chocolate, watchmaking, and cheese. The total value of exotic securities held by the merged bank could be worth 40 times Switzerland's economic output, which could make it too big to fail and take more risks knowing that it is too big for the Swiss state to abandon it.