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Greece's Exit From The Euro Is Likely To Increase.

2015/7/7 23:45:00 27

GreeceEuroForeign Trade

Greece is one of Ningbo's trading partners in Europe, but the volume of trade is not high.

According to Ningbo customs statistics, the value of Ningbo's import and export to Greece was 480 million yuan in 1-5 this year, down 5.9% compared with the same period last year.

Among them, imports of 21 million 710 thousand yuan, a decrease of 27.8%; exports of 460 million yuan, a decrease of 4.5%.

This morning, the Greek referendum ended.

Preliminary statistics show that more than half of the Greeks do not accept the financial rescue plan proposed by the European Commission, the European Central Bank and the International Monetary Fund (IMF) to solve the Greek debt crisis.

The result implies that Greece is likely to be forced to withdraw from the euro zone.


"

Greece

Our customers have communicated with us recently that Greece has capital controls and no money to pay.

It will take 3 months before it is possible to pay. "

Yesterday,

Ningbo

Wang Dingying, general manager of yongtaiping import and export company, told reporters that the export to Greece must be cautious now.

The preliminary results of the Greek referendum show that more than 61.3% of the Greeks objected, and 38.7% Greeks supported the financial rescue plan put forward by the European Commission, the European Central Bank and the International Monetary Fund (IMF) to solve the Greek debt crisis.

Analysts say the result will certainly exacerbate the uncertainty of Greece's future, and Greece is likely to be forced.

Sign out

The euro is restarting to issue its own currency.

Greece also needs more money to reopen the banking system, pay wages and pensions for retirees.

Earlier, European leaders said that if Greece was unwilling to comply with strict budgets and other economic reforms, it would not be allowed to remain in the euro area.

In June 29th, in order to avoid the collapse of the banking system, Greece began to implement capital controls, and the banks stopped operating outside the country, and the cash withdrawal amount was limited to 60 euros per account per day.

On the same day, Greece closed the stock market.

The Greek government forbids banks to pfer funds or pay overseas, prohibit the issuance of new prepaid credit cards and debit cards, and the Greek capital control order also applies to branches of overseas banks in Greece.

It is reported that in July and August, Greece will face the debt repayment of the 6 billion 800 million euro bond of the European Central Bank (ECB).

According to Yongjun Jun, Greece and Ningbo mainly trade in general terms. The value of imports and exports is 440 million yuan, down 5.7%, accounting for 91.7% of imports and exports of the same period.

Private enterprises as the main force, import and export value of 400 million yuan, down 3.2%, accounting for 83.3% of the total import and export value of the same period.

The main commodities imported were scrap metal, with an import value of 19 million 700 thousand yuan, a decrease of 30.5%. The main commodities exported were electromechanical products, with an export value of 240 million yuan, a decrease of 9.3%.

Faced with the further fermentation of the Greek debt crisis, Ningbo enterprises have already sniffed the risks.

"We have 6 customers in Greece, old customers, and I have been to Greece. Although the credit performance of customers is OK, Greece has implemented capital controls and stopped paying overseas, and customers have informed us that we can not pay for the time being."

Wang Dingying, general manager of Ningbo yongtaiping import and export company, told reporters that "customers did not admit their debts, but they were unable to do so because of the Greek government's ban."

Wang Dingying told yongpjun, "but this business will have to wait for at least 2-3 months to complete the next step of the Greek debt crisis.

From the perspective of the cost of capital, in fact, we have already lost. "

The Limited by Share Ltd of Ningbo group, the largest foreign trade enterprise in Ningbo, is very cautious about its economic and trade dealings with Greece.

"The Greek debt crisis has been going on for a long time.

Greece's credit rating has been very low.

The Greek crisis continues to ferment. Recently, we did not take orders from Greece, and we did not import many products from Greece.

Basically, it's in a state of interruption. "

Ying Xiuzhen, deputy general manager of Zhongji Ningbo group, said.

She further told yongpjun that if the debt crisis of a Greek country alone had no effect on Ningbo's foreign trade, it hoped that it would not spread to other countries in the euro zone, and would not affect the confidence and trend of the euro.


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