STOCK MARKET WATCH - Monday, 6 February 2012

[Demeter]

11. Another tiny detail from Switzerland

http://www.golemxiv.co.uk/2012/02/another-tiny-detail-from-switzerland/?utm_source=rss&utm_medium=rss&utm_campaign=another-tiny-detail-from-switzerland

Back in June of last year (2011) I wrote about how there was such a demand for safe deposit boxes in Switzerland that,

…if you want a bank box in Zurich today, they will require that you have a minum of half a million swiss francs on deposit in the bank, before they will even consider you. That is how short of space they are.

The same person,who told me that contacted me today to tell me that the demand for Safe deposit boxes has grown so hugely that in the area bordering Italy, hotels are now renting out their own safety deposit boxes.

First the Greeks now the Italians. Capital Flight in full effect. But don’t worry I am sure Mr Monti has it all under control.