GIC can relax. Much earlier than expected the Swiss parly approved the deal.
If it had not been approved, UBS shareholders could have said bye-bye to their money. The US was threatening to indict UBS for assisting in the evasion of US taxes.
Update 16 June
Opps spoke too soon.There is a proposal for a national referendum on the accord, leaving its ultimate fate in doubt.
Will be a long hot summer as GIC (and we S’poreans) wait to see whether the US prosecutes UBS.
*And title was updated too to reflect continued uncertainty.