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What a most stupid thing to say for Schäuble. But it seems he can'tz stop being provocative even after his Mr. Stasi 2.0 days.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Sat Mar 13th, 2010 at 08:53:44 AM EST
[ Parent ]
I think Germany might be generating a lot of bad blood among peripheral EU member states.

I don't think Central/Eastern European EU member states are too happy with the behaviour of the German and Austrian banks in their countries since 2004 but you can tell me the view from the ground there. In any case, These banks are not doing too well right now (see for instance this).

A little farther afield, I know Croatians are already leery of the perceived German takeover of their economy and they're not even in the EU yet. Seeing the way German talking heads are treating Greece, I can imagine a serious eurosceptic backlash just when Croatia's EU accession looks to be 21 months away.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Sun Mar 14th, 2010 at 08:05:20 AM EST
[ Parent ]
Elsewhere in CEE, German and Austrian banks don't have the monopolistic dominance they have in Croatia to be perceived as executing a takeover, with or without identification with their home countries. For example in Hungary, the largest bank is domestic, the second largest is owned by KBC of Belgium, the third largest by Intesa Sanpaolo of Italy, only then do the subsidiary of a Bavarian bank and Raiffeisen, Erste (both Austrian) follow (and I'm with the 9th which is owned by GE). In the Czech Republic, the big three belong to KBC, Erste and Société Générale of France. In Poland, a domestic bank and one owned by Italian UniCredit are followed by Commerzbank, Raiffeisen is 10th, the others in the top 10 have various owners from Portugal to Ireland.

On the other hand, Raiffeisen has the worst customer service fame in Hungary, and Erste Bank got some fines and court orders too.

*Lunatic*, n.
One whose delusions are out of fashion.

by DoDo on Sun Mar 14th, 2010 at 03:25:58 PM EST
[ Parent ]
I note that Raiffeisen is weak in Hungary, too (they even closed a number of branch offices last autumn), but don't make that a trend: Erste is expanding rapidly.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Sun Mar 14th, 2010 at 03:27:59 PM EST
[ Parent ]
I can't see how there is any real surprise from the smaller countries. Prior to the current crisis in Greece, the big news stories of the last few years were corrupt dealings between gov't officials and Siemens as well as Ericsson bugging the cell phones of gov't officials.

In Greece, it is well understood that corporate proxies from other nations also are involved in unfriendly political operations.

by Upstate NY on Mon Mar 15th, 2010 at 12:20:32 PM EST
[ Parent ]

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