4% Interest (Mongolian Banking)
01-17-2012, 12:01 AM
Quote: (01-16-2012 08:46 PM)speakeasy Wrote:
Iceland was paying out rates like that a couple years back and you know how that ended. Feel sorry for anyone holding kroners at that time.
Ah good reference. I remember that. That caused huge diplomatic turmoil between the governments of Iceland, the UK and the Netherlands (the latter two countries provided many depositors). Iceland ended up absorbing the losses from the failed banks and repaying the depositors in full, but it came at a big cost.