Geoff Kilpatrick Posted June 2, 2008 Share Posted June 2, 2008 http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/02/ccview102.xml Although this may appear as a dry economics article from Her Majesty's Daily Telegraph, the interesting part here was that Lithuania was ranked so highly in terms of debt default. Now, we don't know the intricacies of what UBIG own or invest in but a default could hit them in some way shape or form. Link to comment Share on other sites More sharing options...
7628mm Posted June 2, 2008 Share Posted June 2, 2008 http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/02/ccview102.xml Although this may appear as a dry economics article from Her Majesty's Daily Telegraph, the interesting part here was that Lithuania was ranked so highly in terms of debt default. Now, we don't know the intricacies of what UBIG own or invest in but a default could hit them in some way shape or form. It looks to me that good old Lithuania are possibly heading for a major road crash if the report is to be believed (I hate that word now). Extract from the article; Fitch's David Riley said credit growth had blasted through the speed limit across the whole arc of Eastern Europe from the Baltic states to the Black Sea, and beyond. The top ten states liable to have an accident are: Jamaica (1), Ukraine (2), Kazakhstan (3), Bulgaria (4), Suriname (5), Latvia (6), Lithuania (7), Ghana (8), Vietnam (9) and Sri Lanka (10). "Failure to contain inflation risks undermining macroeconomic stability. In the worst-case scenario, investors will lose confidence in local currency assets," he said. Still at least our glorious leaders country is further up the league table than Hearts have managed;) Link to comment Share on other sites More sharing options...
vegas-voss Posted June 2, 2008 Share Posted June 2, 2008 It will reach 20 pages on hibs.net by the end of the day. Link to comment Share on other sites More sharing options...
Guest GhostHunter Posted June 2, 2008 Share Posted June 2, 2008 Haven't UBIG though, got a ridiculous amount of assets ? Just because Lithuania are in that list, automatically means we are up the swanny.... Link to comment Share on other sites More sharing options...
vegas-voss Posted June 2, 2008 Share Posted June 2, 2008 Haven't UBIG though, got a ridiculous amount of assets ? Just because Lithuania are in that list, automatically means we are up the swanny.... Yeah you may aswell say Aberdeen are ****ed just because housing prices ars too high and first time buyers can't afford to buy so Milne can't make money. Link to comment Share on other sites More sharing options...
Guest GhostHunter Posted June 2, 2008 Share Posted June 2, 2008 Yeah you may aswell say Aberdeen are ****ed just because housing prices ars too high and first time buyers can't afford to buy so Milne can't make money. ? Link to comment Share on other sites More sharing options...
Gilberts Fridge Posted June 2, 2008 Share Posted June 2, 2008 Id say it is something to keep an eye on, but I would imagine that given Romanovs reported business profile he has assets in various locations and exposure to various curencies. Also, is Lithuania going to join the Euro soon, will change control of fiscal policy totaly. Remember welosttheiggestderbyever.net had Romanov going bust over the Bosnian pension thing and then the crash in world aluminium prices a while back. But that wont let all the ecconomists and MBAs over there giving us their thoughts. He might not be flavour of the month amongst us at the moment but I wouldnt worry too much about it all going wrong business wise. Link to comment Share on other sites More sharing options...
ToadKiller Dog Posted June 2, 2008 Share Posted June 2, 2008 I would imagine that Lithuania as well as Latvia would get a certain amount of protection from being EU member states ,i would doubt that UBIG would have all there finances tied to the lithuanian state ,it would likely damage there investments in lithuania and they would likely take some hit. When nations are on the verge of going bust millionares often have a habit of making money out of it. Link to comment Share on other sites More sharing options...
Geoff Kilpatrick Posted June 2, 2008 Author Share Posted June 2, 2008 Haven't UBIG though, got a ridiculous amount of assets ? Just because Lithuania are in that list, automatically means we are up the swanny.... So have RBS, and they've had to tap the markets recently to rebuild their balance sheet. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.