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Some fresh initiatives have recently occurred, like the European Central Bank's commitment in September to stop government borrowing costs from rising too far.
In the space of just two months, the Bank reduced borrowing costs from 5% to just 2% - the lowest since 1951 and the joint lowest ever.
Even the bank would be hard-pressed to buy enough bonds to hold down yields on Spanish and Italian debt in the long term, and prevent the countries' borrowing costs from reaching levels that would eventually prove ruinous, analysts said.
Europe's central bank joined the Fed and other central banks in December in injecting funds into the world's money markets to bring down banks' borrowing costs from seven-year highs.
The Bank's latest quarterly inflation report signalled that the fall in unemployment to its lowest level since the 1970s would lead to stronger earnings growth and necessitate a gradual increase in borrowing costs from 0.5%.
According to an estimate by Re-Define, an economic research institute in Brussels, Germany saved around 20 billion euros ($26.7 billion) in borrowing costs from 2009 to 2011, with an additional 20 billion euros in estimated savings locked in for the future.
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This was the path to higher borrowing costs for everything from mortgages to credit cards to business loans.
Stocks also fell after a gauge of mortgage applications slid last week as refinancing cooled after borrowing costs jumped from a record low.
We will see a municipal finance crisis in the U.S., arising on its own or fueled in part by rising spreads in borrowing costs coming from sovereign Euro woes.
Borrowing costs were cut from 5%to0.5%5% in the months following the collapse of Lehman Brothers in September 2008, the pivotal moment of the global financial crisis.
ProPublica pieced together the story of how Chesapeake shifted borrowing costs to landowners from documents filed with the U.S. Securities and Exchange Commission, interviews with landowners, people who worked for the company and employees at other oil and gas concerns. .
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