German business morale slumped to a six-month low in January as a second wave of COVID-19 halted a recovery in Europe s largest economy, which will stagnate in the first quarter, the Ifo economic.
German business morale slumped to a six-month low in January as a second wave of COVID-19 halted a recovery in Europe's largest economy, which will stagnate in the first quarter, the Ifo economic institute said on Monday.
By Reuters Staff
2 Min Read
BERLIN, Jan 18 (Reuters) - Germany’s upper house of parliament called on Monday for Chancellor Angela Merkel’s government to extend a waiver on insolvency filings for firms hit by the coronavirus crisis.
The provision, which is due to expire at the end of the month, has helped reduce the number of bankruptcies in Europe’s largest economy through lockdown, with the Federal Statistics Office last week reporting a 31.9% year-on-year drop in October.
The Bundesrat upper house called unanimously in a resolution for an extension to the waiver, saying that without it healthy but indebted companies would be forced to file for insolvency “through no fault of their own”.
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