Opinion

Felix Salmon

Understatement of the Day

By Reuters Staff
March 11, 2009

From Paul Kedrosky:

It does not seem to be good if you are a Luxembourg-based Icelandic banker used to selling swiss franc denominated mortgages to hungarian farmers.

The crazy thing is that this kind of thing seemed to make a certain amount of sense as recently as a couple of years ago. But hey, Luxembourg isn’t only about finance. The Luxembourgeois can always fall back on those steel plants.

Reprinted from Portfolio.com

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
  •