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Western banks withholding money

15th October 2012
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Standard & Poor’s said last week that Western banks are withholding “significant” funds from eastern Europe, Bloomberg reported. The ratings agency added that they are doing so due to worries about the troubled euro zone. As a result, countries such as Hungary and Poland have seen their economic growth prospects reduced, the agency said. “It’s clearly a concern that parent banks are visibly withdrawing their financing,” said Frank Gill, a sovereign rating analyst.


From Warsaw Business Journal

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