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Mon February 27, 2012
European Debt Crisis Still Threatens Global Recovery
Originally published on Mon February 27, 2012 5:44 am
DAVID GREENE, HOST:
NPR's business news starts with loans for European banks.
The European debt and banking crisis is still the biggest threat to the global economy, and this week, more money will go to try and ease the pain.
On Wednesday, the European Central Bank, for the second time, will offer banks an unlimited volume of three-year loans at low interest rates. The last time Europe's central bank did this, at the end of last year, banks borrowed more than $650 billion. That loan program helped stabilize markets and bought some time for Greece and its creditors to try and work things out. Transcript provided by NPR, Copyright NPR.