December 4, 2008

EU says bank should start lending

The EU have been fairly quiet during this financial crisis, which could have been a bit worrying, but they nearly always only follow up on what has already happened or when decisions have been made, then it is hardly a surprise that we hear from them now.

The EC competition commissioner Neelie Kroes has spoken out about the banking industry saying that she expects them to giver commitments to begin to start lending again after they have received state aid.

Obviously, there are still countries that have opted to remain independent from the crisis, one country is Germany, they still believe that it is either the US or the banking sector that are to blame and that they should fix it.

Source [World of Currencies]