Quote:
Originally Posted by Flyin Ryan
Just take my word on this. If not, go read this guy: http://eurowatch.blogspot.com/2010/0...ng-things.html or any other number of financial bloggers. The Italian economy might not be in great shape, but it's closer to Britain's financial position than it is to Greece's. The Italians have a lot of debt but the one item in their favor is it's mostly domestically held and they're nowhere near being far and away screwed like the Greeks were, so Dallara is going to have little to fear from domestic economic collapse which is a minor prospect on the horizon at the current (the one bright side of the Greek crisis is it scared everyone; and even in that case the bailout was not to make the Greeks whole or improve their society but to give them the money to pay off their creditors which were...French and German banks) and the Spanish and Portuguese to name two would go down first. The Irish will be fine because they recognized the problem and took care of it even though it was a painful bullet to swallow. The Spanish...it's an open subject. As for the broader European economy, well, if it declines, it's declining for everyone, which would mean all racing companies and all racing industry would suffer. |
The problem with the Italian economy is, it's tied to the Euro, Britain's isn't, it still uses the pound.
Dallara has a lot to fear. If there is another crisis like the Greek one in the Eurozone, there will be a run on the Euro, which will be catastrophic and neither France nor Germany will be in a position to afford to bail out yet another country; they too have debts and have just come out of recession. Also there was a lot of internal opposition to the Greek bailout in Germany. As for Italy's debt being only domestic, they are financing their economy/debt through further borrowing.
I don't think you realise how bad it is in Europe.
To Jag and for your information:
As for finding out financial data on Lola, that information is public and can be found out in the UK, through
http://www.companieshouse.gov.uk/, but I think you need to subscribe. As for Eurozone companies I couldn't tell you; you'll probably have to wade through endless red tape to find it.