Specter of credit crunch returns as banks pump money into markets

By James Kirkup – The central banks’ fresh intervention, which will run from October until December, was driven by the deepening crisis in the euro zone, which is struggling to cope with the debts of countries including Greece.

Investors, particularly US money-market funds, are increasingly worried that the European banks are exposed to huge losses on loans they have made in Greece and other indebted euro zone countries. more> http://twurl.nl/2oumbu

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