Mon 30 November 2009
German bankers to increase cashflow
Chancellor Merkel said the credit situation was becoming critical in Germany. She hopes to meet with banking industry leaders in Berlin next week to avert a possible credit crunch for medium and large businesses. Merkel also acknowledged that it was right for banks to be very careful, urging them not to be too hesitant in lending money. Reminded them also that as service providers to the economy, they had a responsibility towards the whole of society. Merkel, who embarked on her second term at the helm of Europe's largest economy, warned that the economic crisis was not over yet, saying, "I am counting on the sense of responsibility of everyone who wants to help our country." She said the government would appoint a "credit mediator" to speak for businesses who were having trouble obtaining loans at reasonable rates. Business leaders and banks as well as academics are expected to attend next week's meeting at the chancellory.
Credit: bbc/reuters/dpa
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