(Irish Independent, Dublin, 16 June 2012) Ireland’s €5.6bn trade with Spain risks being damaged as the export credit market destabilises in the face of Spain’s worsening economic difficulties, the Irish Exporters’ Association (IEA) has warned. IEA chief executive John Whelan said that many Irish firms that export to Spain rely on export credit insurance to cover the risk of default in payments from their customers there. “As has been the case in Greece since the beginning of the sovereign debt crisis there, Irish exporters have seen normal commercial credit insurance withdrawn,” he added.
