❗Let's close the gap: We still need your help to raise $40,000 by April 1. Donate now
News In Brief

European banks: new funding fears (FT)

Paddy Hirsch Aug 18, 2011

The Financial Times reports that the European Central Bank has lent dollars to a eurozone bank for the first time since February in the latest sign of escalating tensions in the region’s financial system.

The bank borowed $500 million for one week. The FT reported that the news suggested that it was having difficulties obtaining the dollar funds it required.

Analysts were quick to reject the idea that this is the precursor to another 2008 financial crisis. The markets don’t seem so sure: they’re down nearly 5 percent this morning.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.