Gareth Gore is an associate editor at IFR, where he heads the global people and markets coverage. Since joining the magazine in 2009, he has written extensively on the eurozone crisis, sovereign debt, banking regulation and the international capital markets. He previously worked as a Madrid-based correspondent for Bloomberg, and has also worked for Risk magazine.
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European capital markets have been plunged into deep uncertainty after the UK voted to leave the European Union, with bankers and investors struggling to digest what the unprecedented decision will mean.
Greek banks have scrambled to put in bids to borrow money for free from the European Central Bank, after the ECB’s governing council voted to remove a ban on the use of Greek government collateral just hours before the deadline for the second of the ECB’s targeted longer-term refinancing operations was due to expire.
Deals have slowed to a trickle in Europe ahead of the UK referendum on its membership of the European Union this Thursday, with many issuers and investors preferring to sit on the sidelines for fear of getting caught up in any market turbulence.