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So soon enough, Boeing is no longer going to be able to sell its planes, GE won't be able to sell its gas turbines or wind turbines, construction groups will see big contracts delayed, and, maybe more interestingly, independent oil&gas producers will have more trouble finding money to drill new wells...
There is one way out, which is that the European and Japanese banks lend American firms Euros or Yen.

So, Boeing and General Electric can price their capital goods in Euros for the US market and the American investment banks can sell both buyer and seller an FX swap.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Thu Sep 15th, 2011 at 08:13:08 AM EST

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