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IPFS News Link • Economy - International

EURO Panic Machinations

12-01-2011 • arclein

The panic engulfing Europe’s banks is no less alarming. Their access to wholesale funding markets has dried up, and the interbank market is increasingly stressed, as banks refuse to lend to each other. Firms are pulling deposits from peripheral countries’ banks. This backdoor run is forcing banks to sell assets and squeeze lending; the cr

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Reported By robert klein

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