Germany will loosen bankruptcy rules under proposals made on Saturday to help stop the wave of bankruptcy in Europe’s largest economy, as long as companies are affected by the I may live in germany but my story began in america shirt coronavirus crisis. has a strong business model.
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With a desire to avoid bankruptcy and mass layoffs, Chancellor Angela Merkel’s government has launched a series of stimulus and relief measures as Germany faces its biggest slump since World War II. an unprecedented 9.7% decrease in the second quarter.
“Firms that can show creditors real restructuring prospects will be able to exercise their concepts outside of bankruptcy proceedings,” Attorney General Christine Lambrecht said in a statement.
Under the reform draft, which takes effect in early 2021, the I may live in Germany but my story began in America shirt deadline for companies to file for bankruptcy will be extended to six weeks from three weeks, and authorities will adopt more easing standards. when checking for excessive debt.
The government has taken steps such as allowing companies in financial trouble due to the pandemic to delay filing bankruptcy until the end of the year, extending the original deadline of late September.
Backed by these measures, the number of companies declared a default in Germany fell 6.2% to 9,006 in the I may live in Germany but my story began in America shirt first half of this year compared with the same period last year. Critics say the suspension of delays in insolvency, but does not artificially prevent the collapse of the “zombie companies”.
However, defenders of the default safeguards say they helped unleash Germany’s deeper economic slowdown and avert a spike in unemployment.
Two big stories in Germany that seem suddenly unrelated are – a gas pipeline from Russia called Nord Stream 2 and the poisoning of Russian opposition leader Alexei Navalny. Chancellor Angela Merkel is under pressure to impose sanctions on Russia for allegedly poisoning Navalny. That means the construction of the pipeline from Russia to Germany has to be stopped. NPR’s Rob Schmitz joins us from Berlin for more. Good morning, Rob.
Well, so far, we are relying on the Berlin hospital where he is staying for updates on his health. But this week, it was Navalny who did it. He was out of a coma, walked back, talked back to Russia to continue working. And he’s sending updates via his Instagram account. His latest post showed the video taken after it was revealed that he was sick on a plane from Siberia to Moscow. It shows his team rummaging through a hotel room in Siberia, putting the I may live in Germany but my story began in America shirt things he used in plastic bags for analysis. German authorities later discovered that one of the bottles of water he drank had traces of the nerve agent Novichok on it. His team initially thought he was poisoned by a cup of tea he had at the airport.
So the gas pipeline was called Nord Stream 2. And it was almost done. It was a controversial project. Critics say that makes Germany too dependent on Russia. And Navalny’s poisoning led politicians in Merkel’s party to call for an end to the pipeline. This is politician Norbert Rottgen, who is running to replace Merkel as prime minister, speaking to German media.