The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Let them drink champagne

Hôtel du Front Populaire (ci-devant Crillon), 10 Place de la Révolution (ci-devant Concorde), 75008 Paris, France.

I am cowering under the table by the bar with my glass of champagne when the guy under the next table downs his and heads for the door, anxious hands stretch out to drag him back to safety but he cries: No, No, the mob is in the street and I must see which way they are going, for I am their leader. Mom, I recognize the type, there are guys like him in every market and some of them survive, at that, but such scenes are not what I look for when I come to Paris, France, for lunch. It just goes to show that there is no such thing as a free ride, another fine mess Alastair Morton gets me into.

He is the guy who digs a tunnel from England to France and invites banks all around the world to pour their money down it, which we do. The guy is most persuasive: Cough up, he says, or I smash your face in, but by now the debt mounts up and the interest dries up and some of the Japanese talk of foreclosing until he asks them what they plan to do with the world's longest submarine mushroom farm.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree