UK banks hardest hit by credit crunch. - Since the start of 2008, EU banks have lost 32.1% in value on the stock exchange, according to French business newspaper Les Echos. After a rise early in May 2008, the market has become distinctly bearish due to the continued rise in oil prices, inflation and the prospect of a hike in interest rates. The biggest slumps in share price in 2008 were all recorded at UK banks and building societies: Alliance & Leicester (-54%), HBOS (-63%) and Bradford &...