Two weeks ago OneEurope predicted that the European banks will start repaying their loans to the ECB in the very near future, thus spelling the end of the Financial Crisis, in an article sent to us by a financial insider: http://one-europe.info/the-financial-crisis-is-over
A few days later this was officially announced by Reuters and the international media.
Here is some more information on the sums which have been re-paid so far:
European banks returned 137.2 billion euros of long-term funds (3-year LTRO) this week. BNP Paribas and Lloyds have started re-paying these loans. Commerzbank AG, said it repaid 10 billion euros and Banco Popular Espanol said it gave back 1.3 billion euros. The ECB policy committee member Ewald Nowotny said last month that early repayments of the loans is "a positive signal".
The question now is, how can we use this in order to fight unemployment and to create growth?
When will this trickle down to the "real economy" and how can we speed up this process?