Latvia to take down Sweden Latvia to take down Sweden
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  1. #1

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    Default Latvia to take down Sweden

    http://www.guardian.co.uk/business/2...-mortgage-debt

    not sure if this was mentioned yesterday, but, Latvia seems to be in a lot of trouble. Could they take Swedish banks down with them seeings as Sweden owns/backs 80% of Latvian banks?

    If so, what knock on effects would that have?
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  2. #2

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    Brown will sort it out. I'm not worried.

  3. #3

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    Doomed

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    More time posting than coding

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    Default

    Quote Originally Posted by chef View Post
    http://www.guardian.co.uk/business/2...-mortgage-debt

    not sure if this was mentioned yesterday, but, Latvia seems to be in a lot of trouble. Could they take Swedish banks down with them seeings as Sweden owns/backs 80% of Latvian banks?

    If so, what knock on effects would that have?

    Great, no more trips to Ikea

  5. #5

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    Haven't they been borrowing like crazy in a doomed attempt to keep LVL pegged against EUR, in something called ERM II. Sounds familiar...

  6. #6

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    Quote Originally Posted by DimPrawn View Post
    Brown will sort it out. I'm not worried.
    I wasn't worried, but I am now
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