Bankruptcies on rise amid economic downturn in Germany

The number of bankruptcies in Germany has increased by almost 20% this year. In a particularly difficult situation was the IT sector, as well as real estate trade and construction. The number of hospitals will drop by a quarter. Not only because of problems with financing, but also because of an acute shortage of specialists. This is obviously directly linked to the recession, in which Germany has entered. Here for two quarters there was a drop in GDP of about 0.5%. The authorities are talking about de-industrialization: some production facilities are simply closing down, some are being moved to the United States. Citizens can take solace in the fact that the country will make serious progress on climate protection because of this. Germans may have less money, but the air will be much cleaner.