Eurozone banks toughen lending standards

Borrowing across the eurozone became harder for both the region's businesses and consumers in the three months to March, the latest European Central Bank lending survey reveals.

The survey found that credit standards for successful loan applications became more stringent in the first quarter of 2008.

The degree by which credit standards for loans to enterprises were tightened rose from 41% in the fourth quarter of 2007 to 49% in the first quarter of 2008. Bank data showed that larger companie