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New risk to Europe’s growth: Banks cut lending to cities

Posted on 08 June 2012

For decades, when this medieval town wanted to borrow for a building project, officials just needed to walk into one of the many banks between city hall and the nearby 13th-century cathedral.
This year, they have had to look farther afield. Unable to raise the money to keep city construction projects on track, Mayor Jean-Pierre Gorges has dispatched aides to Beijing in hopes of negotiating a loan from China Development Bank………………………………………..Full Article: Source


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