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7 March 2012updated 22 Oct 2020 3:55pm

Another credit crunch looms

The threads holding up the balance sheets of the banks are growing perilously thin.

By Ann Pettifor

The finance sector is signalling alarm, and our politicians are once again asleep at the wheel. Another “credit crunch” may be looming. The most significant evidence emerged from the ECB’s second Long Term Refinancing Operation (LTRO) on Thursday last week.

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