Posted by WARREN MOSLER on June 29th, 2009
Don’t think markets are ready for this:
by Ralph Atkins
June 26th (Bloomberg) — Germanyâ€™s powerful export industry is warning of a credit squeeze in Europeâ€™s largest economy even after the European Central Bankâ€™s injection this week of one-year liquidity into the eurozone banking system.
The German BGA exportersâ€™ association on Thursday forecast a â€œdramatic deteriorationâ€ in credit conditions in coming months, which would result in â€œmassive financing squeezeâ€.