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| Infographie : F. Descheemaekere |
In Europe, a Repeat of the Loan Crisis
[The New York Times]
THE credit crisis, which made it difficult if not impossible for companies and individuals to borrow during the worldwide recession, appears to have returned to Europe.
In the euro area as a whole, the amount of credit outstanding has fallen to levels lower than they were a year ago, according to figures released last week by the European Central Bank. In some countries within the euro zone, including Italy and Spain, credit is falling at a faster rate now than it did during the first crisis. The difficulty in obtaining credit seems likely to make it even harder for the countries that have been hurt the most to recover and begin to grow again.
The figures show that while the E.C.B. has relieved the immediate financial pressures on both governments and banks by making it easy for them to borrow, it has not managed to extend that easy credit to those who need money the most.
Lire : nytimes.com
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