And just as we are topping on the markets, additional signs are pointing out that we are in for another leg down in the current recession.
The European Central Bank published today a survey on 118 banks’ lending practices.
Far from relaxing their credit standards as was expected with the heaps of public money they received, European banks have been halving corporate credit lines for Q2. And for Q3, they expect to further tighten their credit lines.
Link this to my previous post about losses with European banks and you’ll see that pink shoots are evaporating even more.
Recent Posts:
- Economic Data and Earnings Schedule for July 27 2010
- Dallas Fed Manufacturing Index – Drops to Lowest Level Since July 2009
- Economic Data and Earnings Schedule for July 26, 2010
- Is The United States Worthy of a AAA Sovereign Rating?
- Crude Oil Market Summary 7/19/2010 to 07/23/2010
- Economic Data and Earnings Schedule for July 23, 2010
More on this topic
(What's this?)
Eurozone Deflation Becoming a Bigger Concern
(Contrarian Profits, 7/31/09)
Euro Zone Data Boosts Stocks
(Contrarian Profits, 6/29/09)
A Grim Outlook for the Eurozone?
(naked capitalism, 7/13/09)
