The British-Dutch oil company Shell wants to transfer up to 15 billion dollars from Europe to the US, among other destinations, for fear of losses due to the euro crisis, as Simon Henry, Shell's Chief Financial Officer, told the daily newspaper The Times on Monday. An alarmingly candid warning signal, writes the business paper Financial Times Deutschland, even if objectively there is no reason for the move: "The perception of danger is always subjective, and is influenced by many factors: talk of countries being expelled from the Eurozone and the endless wrangling between politicians over the right strategy for the crisis. ... And the more people talk that way, the quicker the fears can become a self-fulfilling prophecy. However we're not there yet by a long shot. On the contrary: as a currency area, the Eurozone still shows more net inflows than outflows. ... Nevertheless it is uncommon for Royal Dutch Shell to be speaking so openly about its cash reserves transfer from the Eurozone. Until now, such movements were kept hush-hush." (07/08/2012)
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