Tuesday, Apr 06, 2010
"losses have largely come from “reckless” property development lending
Fundstrategy: Irish bank crisis set to worsen when rate rises
Ireland’s crisis-hit banks could face further problems as the European Central Bank (ECB) prepares to raise the rate at which it lends. Ireland’s banks, as well as those in Italy and Greece, are heavily dependent on the ECB’s special lending facility, which makes up about 40-50% of their borrowing. However, Jean-Claude Trichet, the president of the ECB, announced plans earlier this month to raise its 1% lending rate, bringing it closer into line with the market, which would pile further pressure on the banks.
Posted by jack c @ 04:17 PM (335 views) Add Comment
1 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
1. Ralph Musgrave said...
Does anyone know of an article or booklet which explains how the Euro system works? I am puzzled by exactly what the relationship is between the ECB, national central banks and commercial banks.