Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Didn't see anyone mention what? The Hungarian mortgage cluster**?

See Fran:



Bloomberg.com: Hungary Seeks $230 Billion Package for Eastern Europe
and Fran:
Hungary Seeks a Speedy Switch to the Euro | Europe | Deutsche Welle | 25.02.2009
in the Salon for February 26.

This thread in the February 24 Salon.


On Roubini and the CEE menace, see this sub-thread in the currency crash diary.
A comment in the diary The Cusp Of History by afew on February 4th, 2009.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Mon Mar 2nd, 2009 at 12:58:38 PM EST
[ Parent ]
True enough.....

I've been otherwise occupied, so I haven't been spending as much time here as I used to.

But, my comment, half of my point got out, was the currency crash.  I don't know if the ECB has an equivalent office, but the stats from the US Office of the Comptroller of the Currency on derivatives  are very interesting.

We've dealt with credit based derivatives collapsing, thus far, but these are a fraction of the total US derivative pie.

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Mon Mar 2nd, 2009 at 01:14:28 PM EST
[ Parent ]


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