Wednesday, December 19, 2007

It’s not stoppable

CRUMBLING PILLARS

Another post from your local Euro monitor: Growler! "if a number of these state-owned banks run into financial difficulties, it could jeopardize the entire system. Although this scenario was considered extremely unlikely until now, the American subprime mortgage crisis has done more than just upset worldwide financial systems. The most spectacular losses in this crisis have been limited primarily to non-German financial institutions until now". As this article illustrates; the conservative, traditionally risk-averse German banking system has also been a victim of the US subprime problems. Expect more than "Rock in a hard place" in the UK for sure

Posted by growler @ 07:21 PM (788 views)
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3 thoughts on “It’s not stoppable

  • The Pound has just dropped below $2 (Reuters).

    I reckon $1.95 by mid January.

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  • planning4acrash says:

    Bugger.

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  • planning4acrash says:

    Bugger. This should send inflation up also.

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