European Bank Deleveraging (Feyen et al.)

European bank deleveraging: Implications for emerging market countries by Erik Feyen, Katie Kibuuka and Inci-Ötker-Robe published by World Bank. “Overall, the information available as of early 2012 shows a market deterioration of credit conditions across Europe. Data also suggest that spillover effects are already being felt around the globe and impliy significant channels through which deleveraging could have disruptive short and long-term consequences for credit conditions in EMEs, particularly in Central and Eastern Europe (CEE).”