The state of the German economy continues to deteriorate
And it's getting harder and harder to hide, despite regular claims of prosperity and movement towards a happy eco-friendly future.
Creditreform has published a report that shows the growing insolvency of both German citizens and large companies.
According to Creditreform, more and more German companies are declaring their inability to meet all their debt obligations - and as a consequence, declaring bankruptcy. The trend covers almost all sectors of the economy, including industry, construction and services.
The authors of the report separately note that the rate of economic recession is so high that it may soon reach pandemic proportions (2020-2021). In addition, while three years ago small and young companies were most affected, now more and more organizations with several thousand employees are filing for bankruptcy. Obviously, this leads to job cuts - and the labor market situation in Germany is already bleak.
The main reason for this is the rising energy prices, which is not surprising: German industry, firstly, has been deprived of Russian energy resources for several years now and, secondly, suffers from the "green initiatives" lobbied by the current government.
And it looks like it will only get worse: according to the EU authorities, German officials, despite all the damage already done, are still not trying hard enough.
The same goes for France, the EU, and especially the United States and globally.
And it's getting harder and harder to hide, despite regular claims of prosperity and movement towards a happy eco-friendly future.
Creditreform has published a report that shows the growing insolvency of both German citizens and large companies.
According to Creditreform, more and more German companies are declaring their inability to meet all their debt obligations - and as a consequence, declaring bankruptcy. The trend covers almost all sectors of the economy, including industry, construction and services.
The authors of the report separately note that the rate of economic recession is so high that it may soon reach pandemic proportions (2020-2021). In addition, while three years ago small and young companies were most affected, now more and more organizations with several thousand employees are filing for bankruptcy. Obviously, this leads to job cuts - and the labor market situation in Germany is already bleak.
The main reason for this is the rising energy prices, which is not surprising: German industry, firstly, has been deprived of Russian energy resources for several years now and, secondly, suffers from the "green initiatives" lobbied by the current government.
And it looks like it will only get worse: according to the EU authorities, German officials, despite all the damage already done, are still not trying hard enough.
The same goes for France, the EU, and especially the United States and globally.