While many euro area banks tend to depend less on wholesale funding than their Anglo-Saxon counterparts, typically having large retail deposit bases, even their ability to grant new loans depends, at least to some extent, on the possibility of using the interbank market as a marginal source of funding, especially in case of an unforeseen shock.
As I am sure you are aware, a major contributory factor to the financial crisis was that the staff of financial institutions were rewarded for short-term risk-taking.