Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
LOL via Winthrop360:

Edward Lucas, the communist?

Edward Lucas: "The comforting thought in countries such as Latvia has been that even if the local banks go bust as the property boom pops, their foreign shareholders will assuredly recapitalise them. The nagging worry now is that they may have other calls on their cash. That creates a political danger: Russia could make a tempting offer to take over such a troubled subsidiary. Countries that do not already have legislation that would allow them to nationalise their banks in such an emergency would be wise to draft it now: once it is on the statute books, it is less likely to be needed."

I'm sure how much more surreal things can get.  And I'm not even talking about Lucas.

"Pretending that you already know the answer when you don't is not actually very helpful." ~Migeru.

by poemless on Mon Oct 6th, 2008 at 02:43:09 PM EST


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