The IMF warns of a EU credit crunch, expecting the region's banks to shed €2.6T in assets by...

|By:, SA News Editor

The IMF warns of a EU credit crunch, expecting the region's banks to shed €2.6T in assets by 2013's end. This could reduce the area's credit supply by 4.4% and cause a hit to GDP of 1.4%. (Global Financial Stability Report) A press conference discussing the release here.