Daily News: August 29, 2012

WSJ: Europe’s Debt Crisis ‘Far From Over’

The Wall Street Journal reported that companies in Southern Europe are going “hat in hand” around the world in search of funding as local bank lending dwindles, with many of them raising money by tapping assets in healthier regions such as Latin America and the U.S.

The Journal said the increased search for alternative sources of funding is yet another indication that Europe’s debt crisis is far from over.

According to data provider Dealogic, the Journal notes that bank lending to companies in the euro zone so far this year is down 43% from a year ago, and has fallen 68% in five years.

To read the Wall Street Journal story, click here.