| Growing their way out of trouble will prove difficult as economies deleverage. |
| The transaction matches the current deleverage of UK loans from the wider UK portfolio transferred from Laiki. |
| With almost EUR 42 billion of asset disposals between the beginning of 2009 and October 2010, Dexia is ahead of its deleverage plan. |
| Unless US consumers deleverage, We think Asia in general will need to find new customers to sell to. |
| Consumers are still inclined to deleverage, while we think the sector's valuation is demanding. |
| The first is the banks' own efforts to deleverage, either to shed money-losing operations and assets or to meet stiffer capital requirements. |
