Fear over European banks' exposure to risky government debt stalked markets and harried bank executives on Friday, as unsecured lending between banks evaporated and the cost of secured loans rose.THIS IS VERY VERY VERY BAD. STAY TUNED...
Dwindling trust between the banks is forcing them to rely more and more heavily on the European Central Bank (ECB) to fund their activities, which in turn is spooking investors concerned about the health of the countries funding the ECB.
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