German banks see no quick pick up in Iran business
German bank lobby says rebuilding ties will take time * Germany-Iran holding Tehran business summit on May 2-3 BERLIN, April 29 Restoring German banks' financial ties with Iran will take time given debt owed to Berlin and transparency concerns, the head of the German banking association said on Friday, dampening expectations days before a business summit in Tehran. Iran owes Germany about 500 million euros ($569 million) under so-called Hermes covers, a German government arrangement that protects German companies if foreign debtors fail to ...
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