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Wed 06 Jun 2010Shares fall on fear ECB has cut bank supports too soon
FEARS THAT the European Central Bank (ECB) is scaling back emergency support to euro zone banks too soon sparked sharp falls in financial markets yesterday, with the euro tumbling to an 8½-year low against the Japanese yen.
Bankers warned that the ECB’s decision not to renew one-year loans to financial institutions had stoked concern about the ability of some euro zone banks to access interbank borrowing markets.
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