Christmas sales for 2008 in the Canaries are expected to be half of last year's, according to an announcement made today by the president of the Regional Commerce Federation, Luis de Miguel, and the vice-president of the Business Association of Las Palmas, Graciliano Afonso, who said he didn't want to frighten anyone, but that it was necessary to tell the truth about the situation. It was further claimed that in the first week after Christmas or the winter sales, a significant number of businesses could close. Apart from the present financial crisis, the banks were blamed for not collaborating with small businesses by extending credit.
Canarias24Horas
Christmas sales for 2008 in the Canaries expected to be half of last year's 
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