So you know, everyone points out Greece's default record, but the history of a lot of sovereign nations is not a good one when it comes to lending them money.
If the banks become unreliable lenders, apartment prices will drop dramatically.
When lending people money, be sure their character exceeds their collateral.
I don't trust a bank that would lend money to such a poor risk.
In my own work, I have written about how our public sector bank officials avoid making any new lending decisions - because lending always exposes them to some (infinitesimal) risk of being blamed for the loan going wrong.
If you would know the value of money; go, and try to borrow some! For, he that goes a borrowing, goes a sorrowing! and indeed, so does he that lends to such people, when he goes to get it in again!
Our approach on lending has always been that we will lend to India-linked assets, because that's the risk that we understand, and that is the business that has been doing very well.
