Sorry!! The article you are trying to read is not available now.
HOT TAGS:  

Europe's Banks Face Second Funding Squeeze on Sovereign Crisis

Print comment Post Comments
THE FAT LADY AIN'T SINGING
"European banks at risk of writedowns from the sovereign debt crisis face a funding squeeze that may depress earnings, curb lending and imperil economic recovery in the region," according to Bloomberg. "Investors are shunning bank securities on concern Greek, Portuguese and Spanish bonds held by the lenders will plunge in value. Bank bond sales slowed in May to the lowest since Lehman Brothers Holdings Inc.’s failure in 2008 as the extra yield buyers demand to hold the securities over government debt soared to the highest this year. Firms are wary of lending to each other, depositing record funds with the European Central Bank."
SOURCE:   Bloomberg

TICKERS