re: Ann: Balai Cluster RSC Project Finance Se... I don't buy...

re: Ann: Balai Cluster RSC Project Finance Se... I don't buy into the Lehman moment for the EU. I think the circumstances and the preparedness are very different to the US crisis. We've had a sovereign fail, and a Euro bank fail, and the reaction wasn't a Lehman style plunge, more acknowledgement that nothing has changed. Europe's situation is unfolding at a very different pace, and with very different outcomes to the US banking style collapse. Most notably, in Europe, the politics is central to determining the outcome, and in Angela Merkel's case, her job depends her current stance. The compromise will be very tricky, but yes, credit has to come from somewhere, or nobody will get their interest repayments. Lending more just to get your interest is central to understanding what the Germans are being asked to do.