Europe’s biggest economy faces wave of bankruptcies — banking chief ...News

Russia Today - Economy
Europe’s biggest economy faces wave of bankruptcies — banking chief
source : Russia Today ( News ) () 12
Aggressive sanctions against Russia are sending financial shockwaves through Germany Germany will be battered with a wave of bankruptcies due to Ukraine-related sanctions against Russia, according to Commerzbank Chief Executive Officer Manfred Knof. “The energy supply in Germany is at risk, supply chains are breaking down, we have high inflation,” Knof was quoted by the Handelsblatt daily as saying. According to the executive, almost a third of Germany’s foreign trade has been impacted, forcing companies to navigate complex issues with customers, including surging commodity prices and supply-chain bottlenecks.

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