Brief addendum to my last post about the illegal car loans tied to foreign currencies. It turns out that it is not just the Icelandic banks who are behind the finance institutions issuing car loans in foreign currencies. Deutsche Bank, for instance, is the largest creditor behind Lýsing, one of the main auto financing companies here in Iceland.
Meaning that if Lýsing goes bust, Deutsche Bank suffers the losses.
Which is just great, isn’t it? As if it wasn’t enough to have the British and Dutch mad at us, now the Germans are going to be pissed as hell, too.