Exporters warn of German credit squeeze

Article reports that Germany’s powerful export industry warned in June 2009 of a credit squeeze in Europe’s largest economy even after the European Central Bank’s injection on the 24 June 2009 of one-year liquidity into the eurozone banking system. The German BGA exporters’ association forecast a 'dramatic deterioration' in credit conditions in coming months, which would result in a 'massive financing squeeze'.

Website: BGA (Federation of German Wholesale and Foreign Trade) http://www.bga.de/article/frontpage/4

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