European Bank Distrust Grows

Escrito por Raquel Maria Garcia Alvarez   
viernes, 21 de junio de 2013

Imagen activa21 de junio de 2013, 16:48Brussels, June 21 (Prensa Latina) Bank distrust is growing in the eurozone, showing refusals in loans to other financial institutions of the single-currency bloc.

Confidence is falling mainly due to Cyprusâ�Ö bailout this year, according to European economy analysts and pollsters.

This may unleash new fears about the euro as a single currency, above all among lenders, as the European Central Bank revealed that the interbank credit facilities fell by one third, reaching only 22.5 percent last April compared to 34.5 percent registered in early 2008.

After 15 years with the single-currency, the banks are only lending to others within the eurozone at the official rate. It is all about a silent recoil in every country, in an economy hit by the debt crisis since 2008, mainly in southern Europe, a trend even witnessed in Germany.

Fitch credit rating agencyâ�Ös analyst, Tony Stringer, said they are even seeing banks going back to lending money in domestic markets rather than extending credits abroad.

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European Bank Distrust Grows

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