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
- Merkel: euro bonds “absolutely wrong” for crisis
- Europe’s Credit Crisis Is Also an Identity Crisis, John Bruton, Bloomberg/SFGate
- Euro-zone debt crisis ‘in dangerous new phase’ warns IMF chief, Phillip Inman, guardian.co.uk