Latest ECB lending data give cause for concern

Banks across the eurozone have tightened their credit standards for loans to businesses by 31% in response to the credit crunch that has hampered the region's money markets since the start of August, according to data from the ECB.

The survey, the publication of which was moved forward by a month following the credit turmoil, indicates that growth in the region will be hampered.

Almost 40% of banks said that the turmoil had contributed to the tightening of credit standards for large enterprises

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