Eurozone: Nov09-Lending down, M3 down.

Reported by AFP, 30th Dec 09

Blue Horseshoe

Also reported on the ECB thread by hosuebuyer:

We are also paying down non-property credit, credit cards etc, and we are €134m the other side on property ie we paid more than was taken out, is this a bad thing? I don’t think so,it would appear that people are budgeting, they will spend when the t’s are dotted and the i’s crossed :laughing:

I actually think this is good news…

If M3 is negative I can see the benign ECB interest rate regime lasting a tad longer.

Agreed, good news for Ireland Inc.

Good news.
The problems will occur when Germanys M3 diverges significantly from Irelands M3.