Shell to take its money and run from the Eurozone
Shell is going to reduce it’s exposure to the turbulent eurozone economies and its been reported that $15bn will be transferred imminently, invested in US Treasuries and US bank accounts.
Shell plans to hedge against risk in the eurozone by raising the price of doing business in the 17-nation bloc. though the chief financial officer Simon Henry was quoted as saying ‘We differentiate between different credit risk,’ He also revealed. ‘There’s been a shift in our willingness to take credit risk in Europe,’ according to reports from The Times today. ‘The crisis has impacted our willingness to afford credit.’