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Eurozone: Number of Bank Credits Keeps Declining

Politics ♦ Published: January 3, 2014; 16:41 ♦ (Vindobona)

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The financial institutes in the Eurozone have been cutting back on granting credits. The lending for both business corporations and private persons has dropped by 2.3 percent.

Eurozone: Number of Bank Credits Keeps Declining / Picture: © Vindobona.org

Banks have been cutting bank on granting credits. In November last year the number of loans given out to enterprises and private households has declined even faster than in the previous month. In total, the number of bank credits dropped by 2.3 percent in November while October saw a decline of 2.2 percent, as reported by the European Central Bank (ECB) on Friday. Experts had been…