Thursday, July 29, 2010

German media: Germany expect ordinary bankruptcy

Friday, June 19, 2009, 8:25
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With regard to the international financial crisis in Germany will increase the number of bankruptcies and the number of unemployed could exceed five million people already in the winter of 2010. This forecast reflected the chief economist of Deutsche bank Norbert Varter in comments diaries Bild.

The worst case of the labor market is yet to come, - said the banker. In his view, the situation begins to improve only in spring 2011.

whole economic situation in the country economist praised a more optimistic. The peak of reduction conditions have passed, given the data on exports and industry. I believe that this year's GDP to decline by another 5-6%, - Varter said, adding that in 2010 not to rely on economic growth in Germany.

Commissioner for Industry Gunter Verhoygen in the EU, in turn, said in a conversation with the diaries Die Welt that the peak of the financial crisis has passed. But have not yet seen the light at the end of the tunnel, - he added. According to the Commissioner, one of the biggest problems at the moment is the unavailability of credit. The longer this situation lasts, the more difficult position to be firm, - he said.

Verhoygen also reported on the need to adopt at the European level concerning the release of bank balance sheets of toxic securities.

Possible growth bankrostv Bild also said the country's economy minister Karl-Theodor memory Gutenberg. According to him, has already been done on the 1300 findings, supported by state firms, which faced the consequences of the crisis. At this time, businesses have been allocated 5 billion euros of assistance from a special fund. According to the minister, will soon be more funds allocated for these purposes. In order to receive assistance from this fund, the company must prove that it was in a difficult situation because of the global financial crisis, but before 1 July 2008 his work was successful.

Despite al the support of the company is increasingly declare bankruptcy. So, last week announced the bankruptcy of the trade and tourism group Arcandor. His bankruptcy had made 43 thousand unemployed Germans.

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