Swiss would save big banks from collapse

Switzerland's government would step in to prevent the collapse of either of its two major banks, UBS AG and Credit Suisse Group, the country's economics minister said Thursday.

Doris Leuthard told Swiss public radio DRS in an interview that hasty reactions and panic in the face of the global financial turmoil could do more harm than good.

But she acknowledged that Switzerland too has contingency plans in place.

"Something that's surely important to us all, that none of us want, is for one of our big banks to get into a serious crisis or even go bankrupt," Leuthard said.

"The Federal Council would definitely prevent …