Switzerland

[Lancer]

So will Germany, France and Italy repo the place and divvy it up once the Swiss banks' little house of cards collapses?

Really though, what will become of Switzerland? Are Euro countries propping it up behind the scenes?

[OneFootInTheGrave]

???

what is tough for them... Swiss banks are OK... soon back into profitability & really there are only two huge banks , UBS and Credit Suisse, out of which UBS really piled on losses.. aboug 50bn I think but they are soon back into the profit zone I would guess as well... with Credit Suisse not nearly as badly hit... the rest (and that's majority when you put them all together) of finance are mostly smaller wealth management banks which have nothing to do with the current credit crunch...

Overall, they'll get of lightly comparing to US/UK and other countries who had an asset boom which is deflating now...

[Lancer]

Oh, well that's good news. I thought it was dire.

[OneFootInTheGrave]

As far as I am aware they are OK... I mean the manufacturing exports will suffer a bit, they might have recession dependable how bad it is in the rest of the world next year, but I think they will be pretty much OK...

Small country with big problems is Iceland

[Lancer]

Iceland can always fall back on the herring industry, yes?

[OneFootInTheGrave]

It will take a lot of herring to pay off 10+ bn of losses that it's banks made

[Lancer]

Still, nice place to live...

Could they sell Greenland?

[OneFootInTheGrave]

The Danes could sell Greenland... so Iceland is screwed for foreseeable future as far as I can tell, but it's a great and safe place to live... people don't lock their doors even...

will be interesting to see how do they get out of all that financial mess over the years...

the latest is that their bank failures will cost UK! treasury 1.3 billion poundsjust for UK customers now imagine the fallout at home... they are running at 18% rates at the moment I think... not sure how indebted they were as a nation... so if they all have their homes, perhaps they can just sit it out... catch herring, have something to eat and enjoy life till this passes...

The lack of foreign currency has raised the danger that importers will not be able to do business abroad and the island of 320,000 people in the middle of the North Atlantic will be left without basic goods.

but herring is still available, and I don't think anyone will take their boats away

[BlackCat]

Yankys and their lack of common knowledge - first Palin not knowing africa is a continent and now lancer thinking Greenland is a part of Iceland

On topic - why should EU care about possible crashes of Swiss banks ? They are not a member of EU (that actually adds yet another )

[Dinner]

Iceland should beg the Danes to take them back.

[Lancer]

Originally posted by BlackCat
Yankys and their lack of common knowledge - first Palin not knowing africa is a continent and now lancer thinking Greenland is a part of Iceland

On topic - why should EU care about possible crashes of Swiss banks ? They are not a member of EU (that actually adds yet another )

Greenland and Denmark are part of Iceland.

[Zkribbler]

Originally posted by Lancer
Still, nice place to live...

If you & Dolores lived there and had a little boy and a little girl, their last names would be Lancerson and Lancerdaughter. Fact!

[Lancer]

FACT!

Dolores has a distant relative in Iceland and another in Denmark. Hope they're ok...