Vietnamese companies are reluctant to borrow from banks at lending rates that can go as high as 18 percent.
The relatively small amount that Spain sought to raise was itself telling, signaling that the government was reluctant to borrow at the current high rates.
The only other sources of financial assistance are loans, but she said she was reluctant to borrow more for a business whose future was so uncertain.
Just as earlier in Japan, however, many consumers and businesses were reluctant to borrow, and those that did seek loans often found that banks, eager to rebuild their balance sheets, were reluctant to lend.
Banks have long been reluctant to borrow from the discount window, because the disclosure that capital was being sought there was akin to announcing a financial crisis, which could alarm investors and make the situation worse.
Marcel Lonneman, a retired AT&T engineer in Jamestown, R.I., said he would like to borrow more, but his partners in a real estate business he is associated with are reluctant to borrow at current interest rates because they think they may still fall further.
They were reluctant to borrow either from their family or the banks.
It is all very well putting banks in a position to lend, but if households and businesses are reluctant to borrow, because their confidence in the future of the eurozone is shattered, then - like the proverbial gee-gee led to water - they won't drink (or borrow).
However, a few guardians were reluctant to borrow, saying the cost of monthly consultations continued to represent a major barrier.
