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Business loans down a record 5.9% in November

Italian credit squeeze worsens, ECB says

03 January, 12:46
Business loans down a record 5.9% in November (ANSA) - Rome, January 3 - Loans to Italian businesses fell 5.9% in November, the sharpest monthly decline ever recorded, the European Central Bank said Friday.

Italy's credit squeeze contributed to its longest postwar recession, which officially ended with zero GDP growth in the third quarter of 2013 but whose effects will take a long time to wear off.

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