Titan Business Insurance hopes that the latest round of help from the European Central Bank will do much to stop the market’s short term worry over the future prospects of the eurozone.
The European Central Bank has provided soft loans (low interest) to some 800 of Europe’s main banks and institutions in the hope that extra liquidity and increased confidence will allow them to move onto a stronger footing.
The amount of money totals around £448 billion and is the second, and larger, round of funding provided by the European Central Bank which first provided more cash last December.
Although the ECB does not reveal which financial institution has asked for money this time around, it’s believed that many UK banks and institutions are major beneficiaries.
Chief Executive Officer of Titan Business Insurance, Basil Tsapralis, said:
“The eurozone politicians have got to hope that the agreement with Greece, plus the latest round of funding, is enough to help them focus on other matters for the next few months at least. Few of us would say that the problems are over, but it’s hoped that a window of respite has been bought before they rise to the surface again. And by that time, we can hope that the green shoots of recovery, evident on both sides of the Pond, will have grown to thick branches and this will lessen the negative forces that still remain.”
Titan Business Insurance has a portfolio of mainly SMEs which are based throughout the UK. It is known for its competitive pricing and high levels of customer service.