If you have clients in Greece, then there is some ‘official’ good news!
For the past few years The Channel Partnership has been able to secure credit insurance cover for exporters to Greece. But the European Commission has formally announced that, from January 1st 2020, Greece will formally be placed back on the list of “marketable risk” countries for short-term export credit insurance.
It has always been our objective to review your clients and help you protect against non-payment of debts through export credit insurance – and Greece has been no exception. This announcement should increase the availability of credit insurance cover for companies wishing to export to Greece, but we’ve been there, supporting UK companies throughout the last 6 years.
Greece was removed from the list six years ago, and now the commission believes there has been an adequate recovery in credibility in the Greek economy to make business debts insurable. This will be a relief to many UK firms that trade with Greece, especially those that are already facing an increased risk of insolvency from their UK-based debtors. For more details please contact us.