Banks reduced cross border lending in fourth quarter

Source: Bloomberg
International banks cut their cross border lending to each other, governments and companies at the fastest pace since the crash of Lehman in 2008. The cross border assets contracted by 2.5% or USD 799 billion in the last three months of 2011, record-keeper said on Monday. The fall in lending was most widespread across Eurozone banks.
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Mon, 04 Jun 2012 10:12:17 GMT

The European Stability Mechanism is set to begin its operation on 9 July

The E.U. is focused on its full implementation of the European Stability Mechanism that will hold funds totaling at EUR 500 billion (USD 620 billion). The main purpose of the ESM is to resolve the repercussions of the recession that forced Ireland, Portugal and Greece to request a bailout. Until 90% of the anticipated funds are obtained by the ESM, the European Financial Stability Facility, holding

Mon, 04 Jun 2012 09:50:18 GMT

European shares dropped sharply on Friday

European equities plunged on Friday reflecting composite negative effect from weaker Eurozone and China manufacturing data. Disappointing US payrolls also contributed to the drop. Stoxx Europe 600 declined 1.9%, Spanish IBEX 35 gave up 0.4% and posted a 7% fall for the week. British FTSE 100 lost 1.1% and German DAX closed 3.4% down. French CAC 40 slipped 2.2%. 

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