Banks clamored for emergency funds from the European Central Bank on Tuesday, borrowing the most since early 2009 in a clear sign that the euro region’s financial institutions are having trouble obtaining credit at reasonable rates on the open market.
Indebted governments among the 17 members of the European Union that use the euro are also finding it harder to borrow at affordable rates as investors lose confidence in their creditworthiness.
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Filed under: * Economics, Politics Economy Consumer/consumer spending Corporations/Corporate Life Credit Markets Currency Markets Euro European Central Bank The Banking System/Sector The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- * International News & Commentary England / UK --Ireland Europe --European Sovereign Debt Crisis of 2010 France Germany Italy Portugal Spain
Posted November 22, 2011 at 11:02 pm
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