Monday, August 3, 2009

How to Immunize a Country from Financial Crises

. Monday, August 3, 2009

You could follow Moldova's example:

In fact, the country hardly has a banking or financial sector at all.


Moldova's economy was ranked 5th most stable in a recent report by The Banker. Moldova is the last communist country in the Soviet bloc, and has GDP per capita of $1,830. The most common investment strategy? Convert local leu into dollars or euros and hide them under the mattress.

Much more at the link.

UPDATE: Douglas Muir at A Fistful of Euros has another take on Moldova. It's less blissful.

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How to Immunize a Country from Financial Crises
 
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