Czech companies owed more than one billion crowns by Greek counterparts

Czech companies are owed around one billion crowns by Greek firms during the current crisis, according estimates from the Association of Small and Medium-Sized Enterprises. The association announced Thursday it had created a contact point for firms dealing with delayed payments or deliveries because of the closure of Greek banks. Banking experts and lawyers were prepared to offer free advice to those in need, it added. Two-way trade between the Czech Republic and Greece is relatively small but late payments or other problems can threaten the survival of some firms. Prompt payment was not a characteristic of Greek companies even before the current crisis, say experts.

Author: Chris Johnstone