12-03-2008, 02:06 AM
http://inpursuitofhappiness.wordpress.co...egal-debt/
Ecuador is about to default on a loan that it had tied to the high prices of oil... not a big deal right? It seems that Sweedish banks have loand somewhere in the neighborhood of 25% of its GDP to small countries like Ecuador that won't be able to pay them back. The Switzy in all their infinite knowledge has loaned somewhere in the neighborhood of 50% of their GDP.....
http://www.finfacts.ie/irishfinancenews/...nter.shtml
3. Austria, Switzerland, Spain and Sweden have the largest exposure to EM. By country, total loans to EM by Austrian banks amount to 85% of GDP â with EE accounting for 80% of Austrian GDP. Switzerland ranks second on this measure, with bank lending to EM amounting to 50% of Swiss GDP. Number three is Sweden at 25%.
Ecuador is about to default on a loan that it had tied to the high prices of oil... not a big deal right? It seems that Sweedish banks have loand somewhere in the neighborhood of 25% of its GDP to small countries like Ecuador that won't be able to pay them back. The Switzy in all their infinite knowledge has loaned somewhere in the neighborhood of 50% of their GDP.....
http://www.finfacts.ie/irishfinancenews/...nter.shtml
3. Austria, Switzerland, Spain and Sweden have the largest exposure to EM. By country, total loans to EM by Austrian banks amount to 85% of GDP â with EE accounting for 80% of Austrian GDP. Switzerland ranks second on this measure, with bank lending to EM amounting to 50% of Swiss GDP. Number three is Sweden at 25%.