Yeah, except for those . . .

So I'm reading the FT this morning on the train to work, and I read about how Basel III will hurt European banks, and how most of these banks did quite well in the financial crisis. I arch an eyebrow.

Then I read "[w]ith the exception of certain institutions in Switzerland, Germany, the Netherlands and the UK  . . . "

Right. So we are talking about what part of European banking industry now?

Comments

[Ken Houghton]

Spain? Portugal? Ireland? Italy? Greece?

You'd think I could come up with an acronym for them, but SPIIG wouldn't work unless we could, say, add Oceania and Turkey. Maybe some animal spirits will make an abbreviation clear...

[Transor Z]

Swedish banks, after they were briefly nationalized and top execs defenestrated. A lot like what didn't happen anywhere else.

[mt]

British humor is a little dry - perhaps that was a joke?

[Thomas Wicklund]

Portugal, Ireland, Greece, and Spain have been referred to as "PIGS" in the Economist. Forget if it's real or they went on to say a better acronym was needed.

Of course, Greece and Portugal are the government, not the banks from what I remember reading. On the other hand, I think the odd French bank had trouble.

[Joe @ Checks]

British humor lol.