When UBS Group agreed to buy Credit Suisse for close to $3.2 billion, thereby also agreeing to eat up some of its losses, Swiss Finance Minister Karin Keller-Sutter was quick to clarify that the deal was ‘not a bailout’, but the ‘best possible solution’ given the adverse circumstances. Having brokered the deal under a tight deadline over the weekend, the Swiss government was determined to not face the infamy of bailing out a systemically important bank at the global level. After what went down during the 2008 global financial crisis, admitting to a bank bailout would be equivalent to confessing that some banks are just too big to fail, and that taxpayers have an obligation to save private banks when faced with crises.