Zoellick Says European Interbank Market is Frozen |
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January 12, 2012
Europe’s interbank market is frozen and the continent’s banks are only lending to each other through the European Central Bank due to a lack of confidence within the financial industry, World Bank President Robert Zoellick was quoted as saying by German daily Die Welt.
If European banks don’t lend to each other, how can others in the U.S. or in China be expected to do it, Die Welt quoted Zoellick as saying at its economic conference in Berlin yesterday.
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