Eurozone banks clamp down on gloomy outlook

Eurozone banks are applying ever more-stringent conditions on the region's borrowers on fears of a worsening of economic activity.

The October edition of the European Central Bank's quarterly Bank Lending Survey shows that 65% of the banks polled had tightened credit standards for loans to businesses since July. This was up from 43% in the second quarter.

The 112 banks from across the eurozone taking part in the survey also revealed that borrowing was becoming more expensive, with 68%

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