Friday, October 9, 2009

The Bills are Alive – Austria’s Subprime

Foreign Currency Mortgages (Swiss francs)

THE alpine hamlets and valleys of Vorarlberg, Austria’s westernmost province, rarely attract much attention, even at home. Yet the region was the source of an idea for cheaper borrowing that has spread risk not just throughout Austria but into many of its neighbours, too—and is now complicating efforts by the European Union and the International Monetary Fund to rescue Latvia’s teetering economy....

Posted by alan @ 12:10 PM (566 views)
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