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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: ChanceIs who wrote (156754)	9/11/2011 6:11:24 PM
From: ChanceIs	Read Replies (1) of 206089

European banks face a $500bn dollar funding gap – the sum they need to repay loans and obligations in the US currency over the coming months. The extra cost to swap euros into dollars, therefore, could make the difference between survival and bankruptcy for some institutions, strategists warn. French banks, especially Société Générale, have been hit hard by a drying-up of US-based dollar liquidity, as money market funds have retreated from eurozone banks. That, in turn, has depressed their share prices, already jittery due to the lenders’ outsized Greek exposures. The news comes as French banks brace themselves for a decision by Thursday over a potential downgrade by Moody’s, the credit rating agency. BNP Paribas, Crédit Agricole and SocGen were put on review for a possible downgrade by the rating agency in June amid an intensifying eurozone debt crisis. Market pressure on them has since intensified, particularly through August. __________________________________________ Ninth inning???

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