Last month Joaquín Almunia, the EU’s commissioner for economic affairs, highlighted foreign-currency mortgages as the sort of danger that the newly formed European Systemic Risk Board would be looking for. More succinct is the verdict of a senior official at Austria’s financial regulator: “We don’t want millions of people acting like little hedge funds.”

From the Economist

A relevant piece on the foreign currency mortgages debate in Iceland.

Related posts:

1. Iceland: The country that became a hedge fund
2. Ireland May Follow Iceland
3. Economist: Trawlermen play the foreign-exchange markets
4. The Benefit of The Doubt
5. Hollow Cries Of McCartyism