NYT: As bank loans dry up in Spain, small and medium businesses fight to survive

New York Times


ZARAGOZA, Spain — There was a time when Ivan Moreno, 34, felt he was on the verge of something big — when it seemed right to settle his rapidly expanding skateboard company into a modern warehouse on the outskirts of this city, when orders piled up from stores around the world.

Those days are gone.

Like the owners of many small and medium-size companies in Spain, […]

Big Banks Prepare to Pay Back LTRO Loans

A clutch of Europe’s biggest banks are preparing to return a chunk of the cheap three-year funding they recently took from the European Central Bank as early as this year.

Senior bankers said Italy’s UniCredit, France’s BNP Paribas and Société Générale, and La Caixa in Spain are preparing to pay back up to a third of the money they borrowed — estimated at 80 billion euros ($106 billion) – […]