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German minister does not expect big insolvency wave until end of year
German Economy Minister Peter Altmaier said today he expects emergency aid will prevent a big wave of insolvencies in November and December among businesses, such as restaurants and hotels, that have been forced to close due to coronavirus curbs.
“I believe that for the sectors primarily concerned (…) we have – through the November and December aid – created a possibility for the economic consequences to remain within manageable limits,” he told a virtual news conference.
“And therefore I do not expect any major waves of insolvency here either.”