LOANS & MORTGAGES

The other day, I met Lucia, an interior designer, for a tea in town. After we exchanged a few pleasantries, she came to the point: ‘I need a 10’000 EUR loan for personal reasons in six to twelve months. Do you have an advice?’ ‘Have you any other debt and how much can you afford to pay for the rata …

Euribor is the interest rate at which a large number of European banks do provide short term loans to each another. The Euribor (Euro Interbank Offered Rate) was first published on Dec 30, 1998 before the introduction of the EUR as a currency on Jan 1, 1999 (see chart below). Banks which borrow money from other banks can use these …