December 2008 / Jan 2009

With the world’s financial markets in free fall, capital security uncertain and everyone from millionaires to pensioners feeling the pinch, even Monaco is not invincible. Although it has millions in reserve (not in Icelandic banks!) and SBM’s net profit in 2007/8 was €93.5M with a 15% increase in turnover to €457.6M, the drop in share prices, collapse of banks and a fall in casino revenues all along the Coast are of serious concern. Nevertheless …