Truble
That’s what Western bankers are thinking about these days if they look to the repayment schedule of Russian companies.
In total the West lent 500 billion dollar to them, but it seems that Russia is not going to support the tycoons anymore but the banking system instead.
Who has money?
EU leaders turn to the IMF on Sunday and call for a doubling of the IMF resources to 500 bln USD so they can respond to the problems in Eastern Europe. Elsewhere the European leaders said that all financing markets and participants have to be regulated and tax havens should be banned from this planet.
Asia agrees on a 120 bln USD currency pool that can be used by countries to defend their currencies if necessary.
Now, I have a question to all this brilliant European political leaders – and subsequently their bankers - : the central and eastern European banking system is dominated by western European banks. These banks sold all mortgages in Swiss francs or yen or other currencies with low rates. There are countless examples that these types of loans always turn sour in a crisis situation. The money that households saved on cheap Swiss interest rates has been more than wiped out by the rise in the Swiss franc.
Why did European banks let it happen when it was only normal and natural to promote the euro as the currency 2B.
No wonder the EU turns to the IMF in a hurry…
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That’s what Western bankers are thinking about these days if they look to the repayment schedule of Russian companies.
In total the West lent 500 billion dollar to them, but it seems that Russia is not going to support the tycoons anymore but the banking system instead.
Who has money?
EU leaders turn to the IMF on Sunday and call for a doubling of the IMF resources to 500 bln USD so they can respond to the problems in Eastern Europe. Elsewhere the European leaders said that all financing markets and participants have to be regulated and tax havens should be banned from this planet.
Asia agrees on a 120 bln USD currency pool that can be used by countries to defend their currencies if necessary.
Now, I have a question to all this brilliant European political leaders – and subsequently their bankers - : the central and eastern European banking system is dominated by western European banks. These banks sold all mortgages in Swiss francs or yen or other currencies with low rates. There are countless examples that these types of loans always turn sour in a crisis situation. The money that households saved on cheap Swiss interest rates has been more than wiped out by the rise in the Swiss franc.
Why did European banks let it happen when it was only normal and natural to promote the euro as the currency 2B.
No wonder the EU turns to the IMF in a hurry…
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