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European Banks to Reduce Lending Abroad Says Igor Purlantov
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master331
As struggling banks around the globe continue tightening their belts, European banks are leading the way in cutting back on lending across Central and Eastern Europe. Looking back to the 200-2007 period, banks across Europe grew more...
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As struggling banks around the globe continue tightening their belts, European banks are leading the way in cutting back on lending across Central and Eastern Europe. Looking back to the 200-2007 period, banks across Europe grew more than 15% in terms of cross-border lending says Igor Purlantov. A lot of this growth came in Central and Eastern Europe as European banks were willing to see up to a third of their assets parked outside their home market. This trend has now changed as European banks are under increased pressure to trim down their balance sheets and shore up capital at home.
According to Igor Purlantov, the European Union could see as much as 2 Trillion Euros of deleveraging over the next two years. Much of this deleveraging will come from the retrenchment of capital out of emerging European countries such as Croatia, Bulgaria, Romania, and Hungary and back into the home countries of large German, Italian, and Spanish banks.
Along with deleveraging forces, politics and regu
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