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Bank funding stress threatens Europe credit crunch - Huw van Steenis, analyst at Morgan Stanley

August 15, 2011 by Asymptotix   Comments (0)

The risk of a credit crunch in southern Europe is rising as banks face stress in their medium- to long-term funding, forcing some to shrink their lending, analysts said on Monday. European banks were rocked last week by concern about a squeeze for short-term funding, with tougher and more costly financing and a retreat by US money market funds prompting lenders to turn to the European Central Bank (ECB) for more cash. France's banks were hit particularly hard.   read more