So I'm reading the FT this morning on the train to work, and I read about how Basel III will hurt European banks, and how most of these banks did quite well in the financial crisis. I arch an eyebrow.
Then I read "[w]ith the exception of certain institutions in Switzerland, Germany, the Netherlands and the UK . . . "
Right. So we are talking about what part of European banking industry now?
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5 responses to “Yeah, except for those . . .”
Spain? Portugal? Ireland? Italy? Greece?
You’d think I could come up with an acronym for them, but SPIIG wouldn’t work unless we could, say, add Oceania and Turkey. Maybe some animal spirits will make an abbreviation clear…
Swedish banks, after they were briefly nationalized and top execs defenestrated. A lot like what didn’t happen anywhere else.
British humor is a little dry – perhaps that was a joke?
Portugal, Ireland, Greece, and Spain have been referred to as “PIGS” in the Economist. Forget if it’s real or they went on to say a better acronym was needed.
Of course, Greece and Portugal are the government, not the banks from what I remember reading. On the other hand, I think the odd French bank had trouble.
British humor lol.