The Swiss government said on Wednesday that the votes of the Lower House of parliament rejecting emergency guarantee loans for the Swiss National Bank and UBS have no legal effect on the country’s obligations.

“However, the Federal Council will take Parliament’s position into account as much as possible in its future work and decisions,” the Council said in a statement.

About the author: Dorian Vogt

Dorian Vogt is the founder of WeeklyNewsReview project and prolific author of many articles here and beyond. His experience is in guiding others is hard to overestimate. His main interests is Zürich city topics. You can't find anyone more in the know about the local news.

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