Europe at Risk of Funding Crunch After Bank Turmoil, APG Warns
- APG chief economist Thijs Knaap speaks in Bloomberg interview
- Biggest uncertainty is cost of defeating inflation, he says
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Europe is facing the danger of a lending squeeze following the recent banking turmoil, according to the continent’s largest pension-services provider.
“The risk of a credit crunch is there and it certainly increased” after the collapse of several US regional banks and the emergency takeover of Credit Suisse Group AG, said Thijs Knaap, chief economist at Netherlands-based APG Asset Management.