| I doubt all Swiss are in denial, but the retailers sound like they are. The value disappearing from the banks books is not heading to anyone's accounts except those smart enough to short their stocks at the right moment.
A country like Switzerland is not likely to panic, because in the end its core strengths are intact. If unemployment becomes too widespread it can respond by booting out foreign workers. Dubai doesn't have any core strengths to fall back on. All it ever had going for it was that its rulers were more clever than most other Arabs, and just as unscrupulous as heads of certain Swiss banks.
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露武蔵 |