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World

Europe hopes Clinton win can spur Iran deals

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Opening sequence

World

Europe hopes Clinton win can spur Iran deals

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COMING UP:Europe hopes Clinton win can spur Iran deals

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Transcript

00:00:01
>> When it comes to the Iran nuclear deal, it's been a year of frustration and disappointment from both sides. European firms now hoping a Clinton victory in the US elections next week could be what it takes to break that log dam, according to Reuters' special correspondent Noah Barkin in Berlin.
00:00:19
>> Well, European businesses are not expecting a sudden avalanche of deals if Hillary Clinton wins the presidential election next week. But she has been a strong supporter of the Iran deal. So it would be a reassuring signal if she were elected that this deal will hold. That it won't unravel.
00:00:40
If she won and Iran's moderate President Rouhani won re-election in May of next year, then that would lift some of the political clouds that have been hanging over this deal. And that will be positive for European businesses.>> When Iran's economy opened last year, hopes were high among western firms.
00:01:02
But since then, European banks have been reluctant to invest.>> People saw this big new market, Iran, as a country with a population the size of Germany, but they didn't appreciate perhaps initially the ongoing risks associated with US sanctions that remain in place. And they didn't see the problems in the Iranian economy.
00:01:25
The poor state of Iranian banks after ten years of being shut out of the international financial system.>> Bad news, though, if next week swings the other way. Donald Trump has called the deal with Iran the worst ever negotiated and that it could cause a nuclear holocaust. He may not be able to withdraw from it completely, but some fear the rhetoric between Washington and Tehran would undermine the deal, and make it even harder to implement.