Sunday, Jun 14, 2009
Credit conditions are going from bad to worse
Telegraph: German credit crunch deepens
"The liquidity crunch is increasingly threatening the survival of companies, as well as finance for new orders," said Hans Heinrich Driftmann, president of the German Chamber of Commerce and Industry (DIHK). "This is becoming a danger to possible recovery."
Mr Driftmann said Germany's €2,500 (£2,100) bonus for trading in old cars had given an artificial boost for a few months but was now returning like a "boomerang" to haunt the auto-industry. "It was a flash in the pan, not a real rebound," he said.
Posted by devo @ 10:49 PM (480 views) Add Comment
3 Comments
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1. jackas said...
At any cost.
I feel the benefit - Fiscally Stimulated
I buy my car.
2. devo said...
Is that you, crunchy?
3. mander said...
Reality check. Euro is too strong.
All this crisis is meant to weaken the Dollar and Pound against the Chinese Rumibidi but the Euro does not even get it. Imagine US and UK are using very well the media to devalue their currency where Euro can not reach but the Chinese rumibidi is controlled by the goverment and it will always be 0.10 of the pound value.