German credit crunch deepens


	German credit crunch deepens

JICWyllie

6-15-2009 7:31 AM

107 views

tags:

1-recession, 2-increase, 2-risks, 3-forecast, 4-germany

JICWyllie says:

It was only a month ago that the German business confidence index rose by a record amount. Makes one wonder about the other sources of optimism about green shoots. See clip: http://openintelligence.amplify.com/2009/05/19/german-investor-confidence-at-3-year-high/

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e6c2b4a6-d8fa-42e3-9a18-0c7b069a81bc/A509D33B-9294-418A-A149-45FB210C29CE/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5534972/German-credit-crunch-deepens.html" href="http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5534972/German-credit-crunch-deepens.html" style="font-size: 11px;">www.telegraph.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5534972/German-credit-crunch-deepens.html"><P>
"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."
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5534972/German-credit-crunch-deepens.html"><P>
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.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5534972/German-credit-crunch-deepens.html">"Financial conditions are getting worse for important sectors of the 
  economy," said the report. It found that borrowing costs had risen for 
  most firms even though the European Central Bank has cut its key interest 
  rate to an historic low of 1pc.
</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5534972/German-credit-crunch-deepens.html"><P>
Europe's industrial output continued to slide in April and was down 22pc from 
  a year earlier, suggesting that talk of a "V-shaped" rebound is 
  premature. At best, the pace of decline has slowed. Production fell 23pc in 
  Germany and 24pc in Italy.
</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A509D33B-9294-418A-A149-45FB210C29CE/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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