It shouldn't be a surprise to many people that Europe is now being hit with the Credit Crunch as a lagger to the UK!
This is historical and fact that Europe will always lag to the Uk and Germany's refusal to provide money supply to the market is now causing problems and also with their refusal to ease the banks provisions and capital ratio's.
It seems that bank lending has reduced in the Eurozone by .8%.
Now they will see the crunch hitting harder as things are picking up in the UK.
However, it will take the UK years to sort this mess out!
I wonder if the UK can show how to sort this mess out. I doubt if the Labour Government will, but the Conservatives will have to bring in their own Austerity package for a good 5-10 years.
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