Friday, June 18, 2010

Oakley: Interbank rates reflect Europe bank strss

European interbank lending rates have diverged to their widest levels since they were launched in December 1998 because of stresses in the eurozone banking system.

Euribor money market rates, which are set by 42 banks in Europe, have risen above euro Libor rates, which are set by 16 banks in London, due to greater tensions in the eurozone.

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