Greg Smith: Devon Funds Management Head of Retail on the future of Credit Suisse

Uncertainty in Switzerland as the country's second largest bank hopes to secure its future. UBS —the country's largest— is offering to pay around 1.8-billion-New Zealand-dollars for full or partial control of Credit Suisse. Regulators have been racing to save the 167-year-old bank, hoping to secure a deal before the markets reopen tonight at 6pm NZ time. Devon Funds Management's Greg Smith told Mike Hosking that there are many scenarios that could play out. He says with a full or partial nationalisation of the bank as a backstop on the cards, there's a bit of a balancing act going on to secure a deal. LISTEN ABOVESee omnystudio.com/listener for privacy information.