To quote the Bank of England Quarterly Report “a large volume of corporate debt matures towards the end of 2008 and over 2009, which presents significant refinancing risks for firms”. Europe’s large corporate institutions need to refinance USD1000Bn to be more precise or five times the amount that expired so far in 2008. USD800bn is due from financial firms and USD200bn to non financial.

Interesting times ahead as Captain Edward John Smith might have said on 14th April 1913