Not just "an American problem".
Oct. 6th, 2008 10:45 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
randomnessLast week in the German parliament, finance minister Peer Steinbrück declared, "The financial crisis is above all an American problem."
Guess not.
Over the weekend, he was scrambling to organize a €50 billion rescue package to save Hypo Real Estate Holding AG, one of Germany's biggest housing lenders. To try to stop a bank panic, the German government also had to match the Greek and Irish governments and announce a national guarantee on all consumer bank deposits.
Maybe he should have waited a bit before indulging in schadenfreude.
Guess not.
Over the weekend, he was scrambling to organize a €50 billion rescue package to save Hypo Real Estate Holding AG, one of Germany's biggest housing lenders. To try to stop a bank panic, the German government also had to match the Greek and Irish governments and announce a national guarantee on all consumer bank deposits.
Maybe he should have waited a bit before indulging in schadenfreude.
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Date: 2008-10-06 09:44 pm (UTC)