Financial Times, 31.12.2008, Nr. 36,887, S. 4
Credit conditions in Germany tightened markedly this month, but smaller companies are having less trouble than bigger ones in securing financing from their banks, a survey showed on Tuesday.
The monthly poll on credit conditions by the Munich-based Ifo economic institute confirmed anecdotal evidence that small and mid-sized companies, known as the Mittelstand, are weathering the financial crisis better than their blue-chip peers.
Many Mittelstand companies have maintained strong relationships with their local savings and cooperative banks, which have been comparatively unaffected by the turbulence on international financial markets and have continued to provide small loans to long-standing business clients.
Bertrand Benoit, Berlin
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