The European Central Bank (ECB) said banks across the euro area tightened lending conditions in 2025 as trade tensions , particularly those linked to exports to the United States, increased risks for businesses.
The findings, published in an ECB blog post by economists Anastasia Allayioti, Alessandro Ferrari, Petra Köhler-Ulbrich and Matías Lamas Rodríguez, together with research analyst Wouter Wakker, examined corporate loan data and bank survey responses to assess how
