Credits for small companies in Spain may be provided by Germany
Monday, May 27, 2013 @ 12:06 PM
GERMANY may agree to provide 'special credits' to small and medium-sized businesses in Spain and Portugal to help them grow, and later to those in Greece.
According to German national daily Der Spiegel, the central European country's equivalent of Spain's Official Credit Institute – the KfW – is considering investing up to 10 billion euros in small companies and sole traders' enterprises in the southern EU nations, taking advantage of currently low interest rates.
Finance minister for Germany Wolfgang Schäuble (pictured), in a letter to economy minister Philipp Rösler, compared the situation of Spain, Portugal and Greece vis à vis the rest of Europe with that of East and West Germany before the fall of the Berlin Wall.
Read more at thinkSPAIN.com