The funding crisis facing Europe, which has made banks across the eurozone doubt the stability of their counterparties, was meant to be dealt with through the ECB’s massive bailout fund and quantitative easing provisions announced Sunday night.
But it may not have fixed all the problems.
There has been a dramatic rise in demand for U.S. dollar funding, and its starting to make the euro look troubled at best.
Morgan Stanley (MS) has a break down of the funding crisis that may be growing, even after the announcement of the bailout.
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