Wholesale lenders to that institution would have already known that it was under pressure, but the news of official assistance told retail depositors, in effect, there was a problem and they reacted accordingly.
As an example, the rate of growth of the outstanding loans to the non-financial corporations was 12.9 percent over the last 12 months. This shows that credit is presently abundant in Europe. What do you think of the so called housing bubble? Do you think there is one in Europe and if so what are the dangers for the European economy?