Avery Goodman

Currency Wars: Swiss Franc Edition

I should correct a "typo" I made in this article. It states that the number of Swiss franc loans made by Austrian banks amount to 70% of Austria's GDP. That is inaccurate. The TOTAL loans made to eastern European borrowers, by Austrian based banks, denominated in Euros, dollars, francs, etc., amount to about 70% of Austria's GDP.