Ger­man firms-Turkey.

Kathimerini English - - Focus -

bor­row­ing di­rectly from the ECB. In June last year the ECB re­in­stated Greek banks’ ac­cess to its cheap fund­ing op­er­a­tions, al­low­ing lenders to re­duce their de­pen­dence on the emer­gency liq­uid­ity life­line. ELA fund­ing to Greek lenders dropped by 2.8 bil­lion eu­ros, or 6.9 per­cent, to 37.9 bil­lion eu­ros in June com­pared to the pre­vi­ous month.

Ger­many’s DIHK cham­bers of com­merce said yes­ter­day that it was dif­fi­cult to imag­ine Ger­man com­pa­nies in­vest­ing in Turkey given the un­cer­tainty cre­ated by de­te­ri­o­rat­ing ties be­tween the two coun­tries. “Un­cer­tainty among Ger­man com­pa­nies has been felt sig­nif­i­cantly since the failed putsch,” DIHK for­eign trade chief Volker Treier told Reuters after Ger­many cast doubt on Turkey’s as­pi­ra­tions to join the Euro­pean Union and is­sued new travel ad­vice warn­ing of risks to Ger­man ci­ti­zens there.

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