Tuesday, August 2, 2011

Ronaldo and Footballers as European Central Bank Collateral

Financial News reports that Bankia, the Spanish Bank, is offering Ronaldo and Kaka as collateral to the ECB for some financing. Ronaldo was supposedly acquired from Manchester United for GBP 80 million whereas Kaka was purchased for eur. 65 million.

The ECB has been accepting all sorts of junk as collateral lately but they might draw the line at Sepp Blatter and Irish footballers. Perhaps rugby players? Although seizing those muscular rugby chaps and taking physical custody in the event of default might be beyond the abilities of ECB personnel!