Super Fitness Health BlogEuropean Borrowing Fails to Calm Unsecure Markets
523 banks have rushed to take up the ECB’s offer of loans.
A record shattering figure of a half-trillion euro loan take-up, has surprised many financial commentators, and lead to a, sadly short-lived, moment of European economic optimism. The high amount borrowed is undoubtedly a important step to stabilise turbulent markets in the euro-zone but most believe that the problem are too large to be solve with such measures.
Nick Matthews (Royal Bank of Scotland): “While the action is very important to help stabilise the situation and reduce the funding risk for the banks, it is unlikely to bring about a turning point in this crisis as the problems are much greater than those in the banking sector and has other political and economic dimensions.”
Further pressures have been piled upon Britain to contribute more cash to solve the euro currencies crisis, but with many ordinary citizens facing an increasingly bleak future, resentment to increased lending is rife. Banks are no longer providing credit to many working people, which when disaster strikes leaves many unable to pay for much needed services, repairs etc.
Payday loans have seen a subsequent huge increase in product users during the economic downturn.
It has taken many observers by surprise to see the huge increases in payday loan borrowing. With year on year increase which show no sign of abating, payday loans are a firm fixture of the high street and online and advertising for many of the companies that provide these products is to be found everywhere: on television, radio, bill-boards and even sponsoring sports teams.
Same day loans do exactly what they suggest, they provide loans, that can be accessed same day, enabling any emergency to be paid for, if and when they may occur. Unfortunately the situation in the Euro zone requires more than just increased borrowing.
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