You should point of, for anybody not paying attention at the time because of youth, indolence, or apathy, that you're talking about the Lloyd's insurance market (and Names) in the 1990s; not the bank of the same name.
I wonder what would have happened if, when the Euro was finally set up, the German central bank had said "Look. It's not the Deutschmark. It isn't the Drachma, either. It's something in-between, like a cross between the Lira and the Peseta, with a healthy tinge of Franc-lite."
I don't suppose there was any mechanism to communicate that to the markets. I don't suppose it would have helped, either. But it would have made a hell of a lot more sense.
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Date: 2010-05-24 03:42 pm (UTC)I wonder what would have happened if, when the Euro was finally set up, the German central bank had said "Look. It's not the Deutschmark. It isn't the Drachma, either. It's something in-between, like a cross between the Lira and the Peseta, with a healthy tinge of Franc-lite."
I don't suppose there was any mechanism to communicate that to the markets. I don't suppose it would have helped, either. But it would have made a hell of a lot more sense.