The worst is yet to come

It was supposed to be a seminar about green shoots, organised by the Nordic Chamber of Commerce together with Argentum and other industry players and held at the London Stock Exchange. But one presentation after another exceeded the last in sober realism, culminating with the bearish views of NM Rotschild managing director, James Vaux. The situation for companies and funds with debt packages reaching maturity this year is particularly dire, warned Vaux, recommending GPs and business owners to be honest and open towards their creditors. If not, he said, banks will come knocking on your door