It's "absurd" that the ECB won't renew the €442B ($547.5B) bank-lending program that expires...

|By:, SA News Editor

It's "absurd" that the ECB won't renew the €442B ($547.5B) bank-lending program that expires Thursday, say Spanish banks. The ECB is trying to strike a reassuring tone, but euro interbank borrowing costs are at 8-month highs and the euro is falling on concerns the region's financial system will now be more vulnerable to threats. Euro -0.7% vs. the dollar.