Insolvency Tsunami Feared in Germany

In an assessment that is based on the uncertainty about a continuation of the state support programs for industry and service sector ventures, the German Euler Hermes credit insurance group expects a cumulative increase of corporate insolvencies by at least 35% for the years 2020-2021. “If the respective state support measures are ended too early, the increase might be even 5 to 10% higher,“ said Maxime Lemerle, insolvency analyst of Euler Hermes, ntv reports. The assessment may be a bit gloomy, but comes as an appropriate corrective to the sunny future prognoses of the German government and its economic advisors.