Gordon Brown fears euro crisis worse than Lehman as 1930s beckon.
Links Telegraph (read the comments section, someone calls him "McBust" )
You couldn't make this up.........................
""The European banks as a whole are grossly under-capitalised: they have liabilities far in excess of American banks. We have now got the inter-play with sovereign debt because we socialised the liabilities," he said.
"It has morphed into a sovereign debt crisis, and is more serious than 2008 because governments then could intervene to sort of out banks. Now both banks and governments have problems," he said."
No comments:
Post a Comment