Europe debt funding gap shrinks

Europe’s net debt funding gap has reduced by 42 per cent from $86bn (£55bn) to $50bn over the last six months, thanks to a surge in non-bank lending into the commercial property market, DTZ said. In a report published yesterday, the property firm forecasts a surplus of lending for 2013-14 in core markets like the UK and France. It predicts that funds and insurers will provide an estimated $181bn of new lending across Europe over 2013 to 2015.