Wednesday, October 7, 2009
More on this failed state – the endgame draws near for property
In the US the bank takes the equity loss. Now Latvia seeks to push its losses on the banks and the Euro denominated mortgages. Iceland has a moratorium on possession, soon to be ended. The pack of cards is beginning to fold, the wobbling Jenga pile nears the point at which the last piece is available and the next move will bring about the inevitable.