China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

The money network:

The money network:

Why crowdfunding threatens traditional bank lending

September 2006

Ignorant analysts

“The events of February and March can be blamed in part on the relative lack of knowledge about the Icelandic economy and its peculiarities, which was reflected in some reports,” says prime minister Geir Haarde.


Iceland: Crisis? What crisis?
Iceland’s financial supervisory authority: Tight supervision
Iceland’s finance minister: What went wrong and what comes next

“The events of February and March can be blamed in part on the relative lack of knowledge about the Icelandic economy”
Geir Haarde, prime minister
Analysts’ reports from rating agencies and banks have been at the heart of many of the developments in the Icelandic economy over the past seven months. “The events of February and March can be blamed in part on the relative lack of knowledge about the Icelandic economy and its peculiarities, which was reflected in some reports,” says prime minister Geir Haarde.

These views are echoed by Jonas Fridrik Jónsson, director general at Iceland’s financial supervisor, Fjármálaeftirlitsins (FME) or...


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