Tuesday, Feb 10, 2009
Europes dependence on Russian energy bites
FT: Russian debt worries hit euro
The euro suffered on Tuesday as a report that Russia was looking to restructure $400bn of its outstanding corporate debt highlighted concerns over the eurozone’s exposure to problems in emerging Europe.
Analysts said the report triggered a knee-jerk bout of heavy euro selling, given the eurozone’s high exposure to the region through bank lending. According to the Bank for International Settlements, European banks’ foreign claims on Russia totalled just over $200bn, or around 1 per cent of GDP.
Posted by mountain goat @ 12:48 PM (289 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.