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Thread: Korea is the next?
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[quote=FRANKENSTEIN,328874]Source: FT. First, US put public funds in its banking systems. Then, Belgium and Germany both invested a large amount of public funds to their banking systems too. Last week, Iceland and Ireland do the same thing too. There seems a certain law---all public funds go to the banking systems in broadly alphabetical order. Who will be the next? According to te law, it is Korea. Actually, Korea already has some problems. Won fell 5 percent against dollar and Short term funding rates jumped to a seven and a half year high. "Companies, banks and households are horribly over-leveraged: private sector debt as a percentage of GDP stands at 180 per cent, above the US." Sounds horrible, right? It seems that "the law" really works. [/quote]
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