Shares in UBS fell on Monday after the Swiss justice minister said the economy would suffer if the Swiss bank collapsed as a result of its unresolved U.S. tax dispute.

We know ... the Swiss economy and the job market would suffer on a major scale should UBS fail as a result of its license being revoked in the Unites States, Justice Minister Eveline Widmer-Schlumpf was quoted as saying in an interview with Swiss newspaper Le Matin Dimanche, published on Sunday.

UBS settled a damaging tax raw with the United States in August by agreeing to transfer data on thousands of clients to U.S. authorities. But that deal is in question after a Swiss court ruled that some of the data cannot be transferred.

Shares in UBS were down 2.4 percent at 13.69 Swiss francs at 0845 GMT (3:45 a.m. EST), underperforming a 1 percent fall in the broader European banking index <.SX7P>

(Editing by Erica Billingham)