A sharp German banker in Luxembourg

Two very clever points in this Handelsblatt interview:

  1. To say that Luxembourg’s banking sector, at 22 times its GDP, is too large is to say that the German automobile industry is too large for the German domestic market and highways. Check mate. The Cypriot banking sector came in at a mere 8 times its GDP and that number was used to defame and destroy its banking sector. QED.
  2. If you are a Luxembourgian banker fearing you may be up next for defamation and unraveling your best bet is to say Cyprus was bad indeed. This way you come across as confident you are different and that is half the ball game in a world of perception…

 

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