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Battening down the hatches

14 Jun 2012

Who would be a senior unsecured bank bondholder? A bewildering cocktail of higher funding costs, reduced access to liquidity, balance sheet constraints and regulatory uncertainty is combining to make the outlook for European banks more opaque than it has been for decades. And that is leaving aside the storm clouds gathering more menacingly by the day over the euro.

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14 Jun 2012