US PRAISES NEW DEAL ON EXPORT CREDIT

Dino D'Amore
By Dino D'Amore December 23, 2010 14:53

US PRAISES NEW DEAL ON EXPORT CREDIT

The Obama administration has praised the new deal to limit export subsidies on aircraft, echoing its French counterparts.

Even though the authorities realise that the deal will make financing aircraft via export credit guarantees will become more expensive, it at least keep this form of financing in place, which benefits Boeing, a major US exporter. The deal has been described as a compromise that everyone can live with, although not one camp is entirely happy with the outcome.

“No agreement is going to be perfect or avoid all risks in the future,” said one administration official quoted in the Wall Street Journal. “This does push things closer to a market-based system, and we will have to see where this plays out.”

Dino D'Amore
By Dino D'Amore December 23, 2010 14:53
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