Christian Shulz
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Banks see ECB loan as an 'opportunity'

29 February 2012 Last updated at 13:00 GMT

The European Central Bank (ECB) has provided a further 530bn euros ($713bn; £448bn) of low-interest loans to 800 banks across the European Union.

It is the second time the ECB has offered such three-year loans and comes after 489bn euros was lent in December.

Christian Shulz, formerly of the ECB and economist at Berenberg Bank said: "The ECB buys the time necessary to bring reforms" for the countries that need to do so.