After all the horror stories from New York and London, the FTD finally sent a reporter to Frankfurt's financial district to check the local mood. He talked to the owners of restaurants, night-clubs and shops, and everyone assured him it's business as usual: Revenues are stable, even in the upmarket segment. No sign of crisis. But then he talks to an HR consultant who tells him that the crisis has indeed left its mark: "By now every banker knows at least one acquaintance or colleague who has lost his job."
Oh my: At least one acquaintance or colleague!
Downsizing in the financial sector, German style.