Overheard in Davos
One of the best things about Davos is the conversations you overhear. It’s like no place else.
Sitting minding my own business, typing away I became aware of a central banker from a medium sized emerging market sitting nearby. He was joined by a gentleman from a bank in his home country. After a few muffled preliminaries the central banks said:
“So, how much trouble are you in?”
The banker responded in what sounded like soothing tones but I couldn’t make out exactly what he was saying. The only other line that came through clearly was that after a long speech the banker said to the central banker, with an air of exasperation.:
“The prices are very low, but there are no buyers!”
That’s it, in a nutshell.