If we don't kill the banks and punish the gang controlling them then the "market" will. Of course, you and I will pay for it.
In the meantime, our 10% discount on food begins and with coupon matching we are stocking up. it will help having a $180 bonus each.
Lenders Flee Debt of European Nations and Banks - NYTimes.com
In the meantime, our 10% discount on food begins and with coupon matching we are stocking up. it will help having a $180 bonus each.
Lenders Flee Debt of European Nations and Banks - NYTimes.com
Nervous investors around the globe are accelerating their exit from the debt of European governments and banks, increasing the risk of a credit squeeze that could set off a downward spiral.
Multimedia
Graphic
European Banks Reducing Sovereign Debt
Interactive Feature
Tracking Europe's Debt Crisis
Related
Bank Chief Rejects Calls to Rescue Euro Zone (November 19, 2011)
Monti Wins Broad Support in Parliament (November 19, 2011)
European Rift on Bank’s Role in Debt Relief (November 18, 2011)
Times Topic: European Debt Crisis
Financial institutions are dumping their vast holdings of European government debt and spurning new bond issues by countries like Spain and Italy. And many have decided not to renew short-term loans to European banks, which are needed to finance day-to-day operations.
If this trend continues, it risks creating a vicious cycle of rising borrowing costs, deeper spending cuts and slowing growth, which is hard to get out of, especially as some European banks are having trouble meeting their financing needs.
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