Not just "an American problem".

[randomness]

Last 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.

Comments

[r-ness.livejournal.com]

I didn't! I should check that out.

Thanks!