Rocky financial markets dry up credit in Europe

05/26/2010 | New York Times (tiered subscription model), The

Persistent worry about Europe's sovereign-debt crisis, combined with a sudden flare-up between North and South Korea, have triggered a flight to safety among investors. This risk aversion is drawing liquidity from the credit market in Europe as capital surges into U.S. Treasuries, analysts said. Rates are increasing on the interbank market, although the credit market has not frozen the way it did after the collapse of Lehman Bros.

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