Wednesday, December 21, 2011

Euro

http://www.washingtonpost.com/world/europe/european-central-bank-will-loan-640b-to-debt-laden-banks/2011/12/21/gIQAAahI9O_story.html?wprss=rss_europe
Excerpt:

European Central Bank will loan $640B to debt-laden bank

PARIS—The European Central Bank announced Wednesday that it is loaning about $640 billion to European banks for an unusual three-year term as part of its effort to free up credit tightened by the euro zone’s government debt crisis.
Statistics released by the Frankfurt-based ECB showed that 523 banks signed up for the loans, the largest infusion of since cash since the euro became the common currency of a number of European nations in 1999. In all, 17 nations have adopted the currency, which was seen at its inception as a boost to economic stability but has in recent months come under withering and perhaps fatal attack.

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