--- Rob Schaap <rws at comedu.canberra.edu.au> wrote: > >
Indonesia and Turkey are
> threatening to hit banks (I
> hear Dresdner and Deutsche are watching Turkey with,
> um, interest
"Interest" is about right, as opposed to "panic". This old account was settled long ago, as the man said -- word is that the big guys have been cutting lines to Turkey ever since the bow wave of this shock hit in November. Ever since, pretty much the only lending going over there has been guaranteed by Coface or Hermes (export credit agencies of France and Germany), or been extended by the Landesbanken. Privatised profits, socialised losses, remember.
dd
===== "Imagine the Duchess's feelings You could have pierced her with swords To find her youngest son liked Lenin And sold the Daily Worker near the House of Lords" -- Noel Coward
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