cortesia di Chris Potter
Da The Telegraph del 28 giugno 2013:
Taro Aso [Japan’s finance minister and former prime minister] said that bankers in Japan had not been able to understand the complex financial instruments that were the undoing of major global players in the 2008 crisis, so had not bought them.
“Managers of Japanese banks hardly understood English, that’s why they didn’t buy,” he said.
Da Bloomberg del 5 luglio 2013:
The official in the Italian region of Piedmont who signed interest-rate swaps with Dexia Crediop SpA and Intesa Sanpaolo SpA (ISP) didn’t speak English well enough to understand the contracts, according to the region’s documents at a London court hearing.
Piedmont, which says it was wined and dined by the banks, signed swaps to cover its interest-rate exposure on a 1.8 billion euro ($2.3 billion) bond issue in 2006, and hasn’t made payments since January 2012, the two Italian banks said in court documents. Dexia and Intesa asked a U.K. court to order immediate repayment of about 36 million euros without the need for a trial.
The province argued the swap isn’t valid under Italian law and contained hidden profits for the banks. Its head of finance in 2006 “spoke very limited English such that he could not possibly have been expected to read and understand the complex agreements which he was executing,” it said in documents.
Sono anche notizie come questa (e ciò che ci sta dietro) che raccontano il disastro in cui è precipitato il nostro paese.