Merkel:Credit Supply At Center Of German Government Talks
Wednesday
FRANKFURT -(Dow Jones)- Credit supply will be at the center of talks between
the German government and representatives from industry, labor unions, financial
institutions as well as the science community Wednesday, Chancellor Angela
Merkel said Saturday in a Web cast video statement.
"We will discuss with representatives of the financial institutions what can
be done to avoid a credit crunch," Merkel said.
Merkel added that the government will make clear it expects financial
institutions to exercise their responsibility for the wider society.
Merkel also said the government will introduce a credit mediator whose task
will be to help companies that have difficulty securing loans on attractive
terms.
Separately, weekly magazine Der Spiegel Sunday reported ahead of publication
that the government plans a large-scale package of measures to help avoid a
credit crunch.
The measures include a plan to acquire risks worth EUR10 billion from banks,
the report says, adding that this is supposed to allow banks to grant new loans
to companies.
-By Frankfurt Bureau, Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@
dowjones.com
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