German Local and State Administrations in Deep Red

The German economic collapse is driving local communities and cities to bankruptcy. Exemplary is the case of Munich, which went from a €0.6 billion indebtedness in 2019, the last year of an SPD-CSU government, to the current €7.5 billion under an SPD-Green administration. Eight DAX40 companies—Allianz, BMW, Infineon, MTU, MunichRe, Scout24, Siemens + S. Energy—are based in Munich, as well as six MDAX—among others Hensoldt/Defense, Traton/VW Trucks, Wacker Chemie.