From RedPepper
"In the ongoing euro-crisis, political leaders are constantly criticised for not being ‘ahead of the curve’, flummoxed by the speed at which market sentiment changes. But following the turmoil in sovereign bond markets and the political deadlock in the European Union, the biggest problem of 2012 may be a new banking crisis. It is becoming increasingly clear that banks across Europe face a serious funding problem in the coming year, a problem that goes to the heart of what is wrong with the current culture and practices of the financial sector."
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