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German Municipalities Left Reeling By Greensill Scandal


German Municipalities Left Reeling By Greensill Scandal
By Jean-Philippe LACOUR
03/17/21 AT 11:13 AM
In Emmerich, a small German town on the banks of the Rhine, Mayor Peter Hinze fears that his town is about to lose six million euros ($7.1 million) almost overnight.
It s hugely frustrating, he tells AFP, adding that the 30,000-person town is preparing to lose around a third of its available funds.
Emmerich is one of dozens of German communities set to lose millions of euros which they had banked with the Bremen-based subsidiary of British financial group Greensill, now suspected of fraud and on the brink of collapse. ....

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Covid 19 coronavirus: Bay of Plenty business leaders and owners reeling


Covid 19 coronavirus: Bay of Plenty business leaders and owners reeling
28 Feb, 2021 06:15 AM
7 minutes to read
The hospitality and tourism sectors are expected to be hardest hit with the new alert levels. Photo / Getty Images
The hospitality and tourism sectors are expected to be hardest hit with the new alert levels. Photo / Getty Images
Soul-destroying, more business closures, more job losses, immense pressure and financial stress. These are some of the comments from Bay business leaders as the region comes to grips with another stint at alert level 2.
Tauranga is expected to fare much better than Rotorua but the impacts would hit tourism and hospitality the most - with tens of thousands of dollars of bookings being cancelled. ....

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