EU urges banks to use extra reserves for loans

European Union Finance Ministers agreed at the Ecofin Council, Brussels, 20 January 2009 on fresh efforts to restore the flow of bank credit to pre-crisis levels, saying it was vital to maintain loans during the developed world’s worst recession in 60 years.

Council of the European Union: Press Release: PRES/09/9: Ecofin Council, Brussels, 20.1.09 http://www.consilium.europa.eu/ueDocs/cms_Data/docs/pressData/en/ecofin/105390.pdf

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