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Wednesday, 22 February 2012

Gulf loans weigh heavy on European banks - FT.com

European banks are struggling to sell off Middle East project finance loans as they refuse to lower their prices to match demand.
The institutions want to ditch the debt to boost their balance sheets, but are finding little appetite for it among regional banks and other international lenders, which think new loan issues emerging locally offer better value.
“There is a disconnect between where European banks are willing to sell and where the Middle East is willing to buy,” says one Dubai-based loan trader.