German investor confidence plummeted in June, marking its steepest fall in nearly 14 years amid ongoing eurozone woes.
The business expectations index by the Center for European Economic Research (ZEW) plunged 27.7 points to minus 16.9 points this month, logging the biggest drop in confidence since October 1998.
"The escalation of the situation in the Spanish banking sector contributed to the sharp drop in the indicator," the president of the Mannheim-based think thank, Wolfgang Frank, said in a statement on Tuesday.
Read more: German investor confidence takes a steep dive | Business | DW.DE | 19.06.2012
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