.
- Destroy the European economy by placing #UsefulIdiots in political positions in order to stop Russian energy supplies from reaching the continent.
- The EU's economy “will inevitably collapse” as a result of this, resources of up to $9 billion will flow back to the US.
- Well-educated young people in Europe will be forced to emigrate.
- “Weakening Germany, strengthening the U.S. ”there is an urgent need" for an influx of resources from outside to maintain the overall American economy, but “especially the banking system”.
Meet the tough women leaders taking on Vladimir Putin | By Oct. 13, 2022
- Estonian Prime Minister Kaja Kallas didn’t need schooling about the Russian threat. On Feb. 19, five days before the invasion, Kallas explained how Putin plays: He demands, she said, the maximum for something that was never his, threatens with ultimatums and escalates when he doesn’t get his way.
T=1782504754 / Human Date: UTC: Friday, 26 June 2026 at 20:12:34
MORE:
US threatens to cut gas supplies to EU amid row over environmental rules | 26.06.2026
- The US has warned the EU that American liquefied natural gas (LNG) could be diverted elsewhere unless Brussels eases planned methane emissions regulations.
German automaker Volkswagen plans to cut up to 100,000 jobs and cease production at four German plants as part of a significant acceleration of its cost-cutting plans, as Europe's largest automaker seeks to survive | 26.06.2026
- "You lack the natural resources and energy reserves that would make your country strategically attractive to conquer. Why would we take on problems that otherwise would not concern us? Realistically, even if you invited us in, surrendered, and waved white flags, we still would not come. "
UPDATEs:
- “Germany is moving forward. This is a major step forward,” Chancellor Friedrich Merz (CDU) announced on Thursday, referring to the black-red coalition's reform package “for economic recovery and employment.”
- The head of government himself could also use a “boost”: In the Deutschlandtrend poll, commissioned by ARD's “Tagesthemen” and WELT, Merz has plummeted to a new record low.
- We are talking about the amount of €118 billion, which is about 7% more than predicted in April.
- The higher borrowing reflects weaker-than-expected tax revenues, rising debt servicing costs as interest rates rise, and additional financing needs from the Federal Employment Agency, which pays unemployment benefits.
- AFD leader Weidel declared a "tsunami of bankruptcies" in Germany.
- She drew attention to the fact that even an auto giant like Volkswagen could cut about 100,000 employees.
_
The real crisis is only just beginning: Why bankruptcies are only the tip of the iceberg
Fact check on the wave of corporate bankruptcies: Is the dramatic Bild headline really true? - Scroll down.
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Shocking document: How the US planned the war and energy crisis in Europe
The alleged RAND-documentsIn what appears to be an exceptional internal leak from the think tank RAND Corporation, known among other things to have been behind the American strategy for foreign and defence policies during the Cold War, a detailed account is given of how the energy crisis in Europe has been planned by the United States.
The document, which dates from January, acknowledges that the aggressive foreign policy that was being pursued by Ukraine before the conflict would push Russia into having to take military action against the country.
Its actual purpose, it contends, was to pressure Europe into adopting a wide range of sanctions against Russia, sanctions which had already been prepared.
The European Union's economy, it states, “will inevitably collapse” as a result of this, and its authors rejoice in the fact that, among other things, resources of up to $9 billion will flow back to the United States, and well-educated young people in Europe will be forced to emigrate.
The key objective described in the document is to divide Europe - especially Germany and Russia - and destroy the European economy by placing useful idiots in political positions in order to stop Russian energy supplies from reaching the continent.
Uppdaterad februari 21, 2025, Publicerad september 15, 2022 – av Markus Andersson
Markus Andersson
markus.andersson@nyadagbladet.se
Isac Boman
isac.boman@nyadagbladet.se
RAND Corporation’s think tank, which has a huge work force of 1,850 employees and a budget of $350 million, has the official aim of “improving policies and decision-making through research and analysis”. It is primarily connected to the United States Department of Defence and is infamous for having been influential in the development of military and other strategies during the Cold War.
A document signed RAND, under the opening heading of “Weakening Germany, strengthening the U.S.”, suggests that there is an “urgent need" for an influx of resources from outside to maintain the overall American economy, but “especially the banking system”.
“Only European countries bound by EU and NATO commitments can provide us with these without significant military and political costs for us.”
According to RAND, the main obstacle to this ambition is the growing independence of Germany. Among other things, it points out that Brexit has given Germany greater independence and made it more difficult for the United States to influence the decisions of European governments.
A key objective that permeates this cynical strategy is, in particular, to destroy the cooperation between Germany and Russia, as well as France, which is seen as the greatest economic and political threat to the United States.
"If implemented, this scenario will eventually turn Europe into not only an economic, but also a political competitor to the United States.", it declares.
The only way: “Draw both sides into war with Ukraine”
In order to crush this political threat, a strategic plan, primarily focused on destroying the German economy, is presented.“Stopping Russian deliveries could create a systematic crisis that would be devastating for the German economy and indirectly for the European Union as a whole”, it states, and believes that the key is to draw the European countries into war.
“The only possible way to ensure that Germany rejects Russian energy supplies is to draw both sides into the military conflict in Ukraine.
Our continued actions in this country will inevitably lead to a military response from Russia.
Russia is clearly not going to leave to the massive Ukrainian army's pressure on the Donetsk People's Republic without a military response.
This would make it possible to portray Russia as the aggressive party and then implement the entire package of sanctions, which has already been drawn up”.
Green parties will force Germany to “fall into the trap”
The green parties in Europe are described as being particularly easy to manipulate into running the errands of American imperialism.
“The prerequisite for Germany to fall into this trap is the dominant role of green parties and European ideologies.
The German environmental movement is a highly dogmatic, if not fanatical, movement, which makes it quite easy to get them to ignore economic arguments”, it writes, citing the current foreign minister of Germany, Annalena Baerbock, and the climate minister, Robert Habeck, as examples of this type of politician.
“Personal characteristics and lack of professionalism make it possible to assume that it is impossible for them to recognise their own mistakes in time. I will therefore be sufficient to rapidly form a media image of Putin's aggressive war - and make the Greens into ardent and tough supporters of sanctions - a ‘war party’. This will make it possible to impose the sanctions without any obstacles”.
Baerbock is, i.a., well known for declaring that she will continue the suspension of Russian gas even during the winter - regardless of what her constituents think about the matter and the consequences for the German population.
– We will stand with Ukraine, and this means that the sanctions will stay, also in winter time - even if it gets really tough for politicians, she said at a conference in Prague recently.
“Ideally - a complete halt of supplies”
The authors express a hope that the damage between Germany and Russia will be so great that it will make it impossible for the countries to re-establish normal relations later on.“A reduction in Russian energy supplies – ideally, a complete halt of such supplies– would lead to disastrous outcomes for German industry. The need to divert significant amounts of Russian gas for winter heating will further exacerbate the shortages. Lockdowns in industrial enterprises would cause shortages of components and spare parts for manufacturing, a breakdown of logistics chains and, eventually, a domino effect”.
Ultimately, a total collapse of the economy in Europe is seen as both probable and desirable.
“Not only will it deliver a devastating blow to the German economy, the entire economy of the entire EU economy will inevitably collapse.”
It further points out that the benefits of US-based companies having less competition on the world market, logistical advantages and the outflow of capital from Europe, would mean that they would be able to contribute to the economy of the United States by an estimated 7-9 trillion dollars. In addition, it also emphasises the important effect of many well-educated and young Europeans being be forced to immigrate to the USA.
RAND denies originating the report
RAND Corporation issued a press release on Wednesday denying that the report originates from them. No comments are made regarding what parts of the report are false or what is accurate, apart from simply writing that the content is “bizarre” and that the document is “fake”".REPOSTED FROM:
https://nyadagbladet.se/utrikes/shocking-document-how-the-us-planned-the-war-and-energy-crisis-in-europe/
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The alleged RAND-documents
Here are the US officials to whom the RAND document was addressed
UtrikesAmong the recipients listed are the White House Chief of Staff; the US State Department and the CIA and the National Security Agency (NSA).
The alleged RAND-documents
Former prime minister of Sweden rejects RAND leak as ”falsified” – while being an advisor to the organisation
The story, which went viral internationally last week, prompted Sweden’s former Prime Minister and Foreign Minister Carl Bildt to comment on it on Sunday.
The alleged RAND-documents
Shocking document: How the US planned the war and energy crisis in Europe
UtrikesUS think tank with close ties to Washington allegedly behind American plans to crush the German industry by halting its supply of Russian gas, leading to economic collapse throughout Europe.
REPOSTED FROM:
https://nyadagbladet.se/artikelamne/alleged-rand-documents/
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8.08 ap. · 25. kesäk. 2023
https://x.com/GraviolaDOTfi/status/1672834050694807553
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RAND Co | Jan 25
— Graviola Finland (@GraviolaDOTfi) September 20, 2022
- There is an urgent need for resources to flow into the national economy, especially the #banking system.
Only European countries bound by EU and NATO commitments will be able to provide them without significant mil and pol costs for us.https://t.co/I7ogxQo0Uq pic.twitter.com/2ESH1MKAZe
https://x.com/GraviolaDOTfi/status/1572194086194397184
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https://x.com/GraviolaDOTfi/status/1721682597816746231
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US threatens to cut gas supplies to EU amid row over environmental rules
SOURCE: https://news-pravda.com/world/2026/06/26/2401443.html
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German automaker Volkswagen plans to cut up to 100,000 jobs and cease production at four German plants as part of a significant acceleration of its cost-cutting plans, as Europe's largest automaker seeks to survive the rapid..
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President Putin's message to the German government and the German people:
A huge majority of Germans are dissatisfied with the Chancellor's performance. Besides the economic weakness, another issue in particular is troubling a majority of citizens.
“Germany is moving forward. This is a major step forward,” Chancellor Friedrich Merz (CDU) announced on Thursday, referring to the black-red coalition's reform package “for economic recovery and employment.” The head of government himself could also use a “boost”: In the Deutschlandtrend poll, commissioned by ARD's “Tagesthemen” and WELT, Merz has plummeted to a new record low.
In the survey, which was completed before the announcement of the reform plans, only 13 percent of respondents expressed being "satisfied" or "very satisfied" with the Chancellor.
That is three percentage points lower than in the previous month. 84 percent, on the other hand, stated that they were "less" or "not at all satisfied." Among supporters of the CDU/CSU alliance, the picture is more balanced: 51 percent are dissatisfied with Merz, while 48 percent are convinced of his performance.
Only Green Party leader Franziska Brantner and Economics Minister Katherina Reiche (CDU), each with 11 percent approval, and Left Party leader Ines Schwerdtner with 9 percent, are less popular among the general population than Merz. The SPD leadership fares significantly better than the Chancellor: Labor Minister Bärbel Bas and Finance Minister Lars Klingbeil maintain their approval ratings from the previous month: 18 and 21 percent, respectively. Interior Minister Alexander Dobrindt (CSU) is slightly higher, with 22 percent of citizens satisfied with his performance.
AfD leader Alice Weidel makes it into the top three of the ranking with 27 percent, one point behind Foreign Minister Johann Wadephul (CDU). At the top by a wide margin is Defense Minister Boris Pistorius (SPD) – he is the only politician with whom a majority (52 percent) expresses satisfaction.
Satisfaction with top politicians
very satisfied/satisfied, in percent
The Deutschlandtrend poll brings bad news not only for Merz personally, but also for his CDU/CSU alliance: In the Sunday question, the CDU/CSU loses one point compared to the previous month and currently stands at 22 percent – according to Infratest Dimap, this is its lowest level since November 2021. Things are also looking bad for their coalition partner, the SPD, which loses one point and lands at twelve percent.
As in the previous month, the AfD remains the strongest party with 27 percent. The Greens and the Left Party each gained one point, reaching 15 and 11 percent respectively.
Majority sees climate protection as a priority
What are the biggest concerns for Germans right now? Clearly, the weakening economy dominates: 78 percent of those surveyed say they are "very worried" or "very worried" about Germany's economic standing. In second place is the fear "that climate change will destroy our livelihoods"—two-thirds of citizens express this concern.
Just over half expressed concern "that too many foreigners are coming to Germany." According to the survey, 48 percent fear financial difficulties in old age. The concern among employed respondents about losing their jobs is relatively low: almost three-quarters are hardly or not at all concerned about the issue.
The pollsters examined the issue of climate protection in more detail. A majority of 58 percent believe it should not be neglected "in light of the current crises and challenges." However, 36 percent believe climate protection should be a low priority. Looking at party affiliations, only AfD supporters predominantly hold the latter view.
Another focus is the evaluation of the pension commission's reform proposals. The proposed elimination of early retirement without deductions after 45 years of contributions – the so-called "pension at 63 " – is considered "the wrong direction" by 70 percent of Germans. Linking the regular retirement age to life expectancy is rejected by 63 percent.
The inclusion of self-employed individuals, politicians, and board members of publicly traded companies in the statutory pension insurance system is viewed positively – 84 percent express support for it. 56 percent welcome a capital-funded supplementary pension scheme in which contribution rates for employees and employers are slightly increased and this portion is mandatorily invested in the capital market. The coalition agreement states that the coalition will implement the commission's recommendations in a legislative package. "This will be passed by the German Bundestag by the end of 2026."
For the representative Deutschlandtrend survey, Infratest Dimap interviewed 1,317 eligible voters between June 29 and July 1, conducting 785 telephone and 532 online interviews. The margin of error is between two and three percentage points.
Johannes Wiedemann is the senior editor for politics in Germany.
SOURCE
EN:
https://www-welt-de.translate.goog/politik/deutschland/article6a454b971f5535004df236de/deutschlandtrend-merz-stuerzt-auf-neuen-tiefstwert-union-so-schwach-wie-seit-fast-fuenf-jahren-nicht.html?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=fi&_x_tr_pto=wapp
DE:
https://www.welt.de/politik/deutschland/article6a454b971f5535004df236de/deutschlandtrend-merz-stuerzt-auf-neuen-tiefstwert-union-so-schwach-wie-seit-fast-fuenf-jahren-nicht.html
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Germany plans to increase borrowing in 2027
SOURCE:
https://news-pravda.com/world/2026/07/06/2421860.html
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Bild's dramatic top headline: "A bankruptcy every 20 minutes": What's really behind the shocking new figures?
Xpert Pre-Release
Available in 27 languages 📢 English
Published on: March 13, 2026 / Updated on: March 13, 2026 – Author: Konrad Wolfenstein
Fact check on the wave of corporate bankruptcies: Is the dramatic Bild headline really true?
A company goes bankrupt every 20 minutes in Germany: Detailed analysis
"A German company goes bankrupt every 20 minutes" – this striking headline from the Bild newspaper recently caused a nationwide stir . But how much truth is there to this dramatic statistic? The fact is: Germany is currently experiencing an unprecedented wave of insolvencies. With over 24,000 company bankruptcies projected for 2025, the economy is at its highest level in over a decade. Whether construction, retail, automotive suppliers, or healthcare – the crisis cuts across all sectors and hits small and medium-sized enterprises (SMEs) just as hard as large corporations. The consequences are severe: billions in losses for creditors and hundreds of thousands of jobs at risk. But what are the real causes of this drastic increase? Are these simply catch-up effects from the coronavirus pandemic, or do the figures reflect a profound structural crisis in Germany's economy? In our comprehensive analysis, we examine the official data, fact-check the alarming headlines, and reveal what experts predict for Germany's economic future.
Related to this:
What exactly did Bild newspaper report?
On March 13, 2026, the Bild newspaper ran the headline “New shock figures: A German company goes bankrupt every 20 minutes.” This followed a press release published the same day by the Federal Statistical Office, according to which German district courts registered a total of 24,064 corporate insolvencies in 2025. This represents an increase of 10.3 percent compared to the previous year. Volker Treier, chief analyst at the Association of German Chambers of Industry and Commerce (DIHK), was quoted as saying: “On average, a company in Germany had to file for insolvency every 20 minutes.”
Is the calculation “every 20 minutes” correct?
The calculation can be mathematically verified. A year has 525,600 minutes (365 days times 24 hours times 60 minutes). Dividing this by 24,064 insolvencies yields a statistical value of approximately 21.8 minutes per insolvency. Using Creditreform's figure of 23,900 insolvencies, this results in approximately 22 minutes. The statement "every 20 minutes" is therefore a slight rounding up, but essentially accurate. A more precise statement would be "approximately every 22 minutes," but the discrepancy is journalistically acceptable and does not alter the fundamental message. Volker Treier deliberately formulated the figure as an average, which is methodologically correct.
Where do the official figures come from?
The central source is the Federal Statistical Office (Destatis) in Wiesbaden. Its press release of March 13, 2026, cites the official figure of 24,064 corporate insolvencies filed for the entire year 2025. It should be noted that insolvency applications are only included in the statistics after the insolvency court's initial decision; the actual filing date is often about three months prior. In addition, the credit agency Creditreform publishes its own analyses. As early as December 2025, it had projected approximately 23,900 insolvencies for the entire year, representing an increase of 8.3 percent. The Leibniz Institute for Economic Research Halle (IWH), using a more specific methodology and counting only partnerships and corporations, arrived at 17,604 cases, the highest figure in 20 years.
Why are there different insolvency figures?
The discrepancies between the three sources are due to differing data collection methods and definitions. The Federal Statistical Office counts all corporate insolvencies filed with the local courts, including sole proprietorships and freelancers. Creditreform uses its own data sources and projections and arrives at similar figures. The IWH, on the other hand, only records partnerships and corporations and excludes sole proprietorships, which is why their number is significantly lower. For the public debate and the Bild newspaper's headline, the Destatis figure of 24,064 is decisive, as it represents the most comprehensive and officially binding statistic.
How has the insolvency situation developed in recent years?
The number of insolvencies in Germany has shown a continuous and accelerating increase since 2022. In 2023, the number of corporate insolvencies rose by 22.1 percent compared to the previous year, followed by a further increase of 22.4 percent in 2024. In 2025, the increase was 10.3 percent, meaning the rise slowed but remained at a high level. For historical comparison: In 2014, the number of corporate insolvencies stood at 24,085, which at the time was considered a record low since the introduction of the Insolvency Code in 1999. Germany has thus returned from a historic low within a decade to a level last seen in the economically challenging years before 2014. The IWH notes that the insolvency figures in 2025 were even around five percent higher than during the global financial crisis of 2009.
Which industries are most affected?
The wave of insolvencies is hitting the German economy hard, but some sectors stand out in particular. Based on 10,000 companies, the transportation and warehousing sector recorded the highest insolvency rate with 12.3 cases per 10,000 companies, followed by the hospitality industry with 10.5 and the construction industry with 8.5 insolvencies per 10,000 companies. According to the Halle Institute for Economic Research (IWH), around 62,000 jobs in the manufacturing sector were affected by insolvencies, more than in any other sector. The crisis was particularly noticeable in the healthcare and nursing sector, where several large institutions, such as the German Red Cross Hospital Group, the Erzgebirge Clinic, and Argentum Pflege Holding, had to file for insolvency. In the automotive sector, suppliers such as Gerhardi Kunststofftechnik and VOIT Automotive were among those affected, while in the retail sector, companies like Hammer Fachmärkte, KODi, and Polo Motorrad were impacted.
What is the situation regarding major bankruptcies?
The year 2025 saw a record high in large-scale insolvencies. According to a study by the credit insurer Allianz Trade, 94 German companies with annual revenues of at least €50 million filed for insolvency, an increase of eight percent compared to the previous year and the highest figure since the data collection began in 2015. Worldwide, 475 large companies filed for insolvency, statistically speaking, one major bankruptcy every 18 hours. Germany accounted for one-fifth of all global large-scale insolvencies, highlighting the structural problems of the country. According to Falkensteg, a total of 471 companies with annual revenues exceeding €10 million filed for insolvency, an increase of approximately 25 percent compared to the previous year. Since 2021, large-scale insolvencies have thus almost tripled.
What damage is caused by the wave of bankruptcies?
The financial and social consequences are substantial. Creditreform estimates the total losses for creditors in 2025 at around €57 billion, almost on par with the previous year's figure of €59.1 billion. On average, the claims at risk of default amount to more than €2 million per insolvency case. An estimated 285,000 employees were directly affected by corporate insolvencies. Furthermore, the creditor base is broadly diversified: suppliers, banks, landlords, and public authorities are all affected. Indirect effects also include the loss of innovative capacity, the weakening of regional economic structures, and a potential domino effect on suppliers and business partners.
What are the main reasons for the increase in bankruptcies?
The causes are multifaceted and no longer solely cyclical. According to Patrik-Ludwig Hantzsch, head of Creditreform, many companies are heavily indebted, struggle to obtain new loans, and grapple with structural burdens such as energy prices and regulation. The German Chamber of Industry and Commerce (DIHK) identifies four key contributing factors: high labor costs, high energy costs, excessive bureaucracy, and a weak economy that has persisted for years. The aftereffects of the COVID-19 pandemic also play a role: During the pandemic, government aid and the suspension of the obligation to file for insolvency artificially kept many companies afloat. After these measures expired, the postponed insolvencies were finally filed. However, Steffen Müller, a researcher at the Halle Institute for Economic Research (IWH), emphasizes that the high figures can "no longer be explained by catch-up effects from the pandemic and interest rate policy," but rather "increasingly reflect the current economic challenges in Germany." In addition, American tariffs and intensified competition from China are putting further strain on the export-oriented German economy.
The real crisis is only just beginning: Why bankruptcies are only the tip of the iceberg
Why is it hitting the middle class particularly hard?
Micro-enterprises with up to ten employees account for the largest share of insolvencies. In this segment, around 19,500 companies filed for insolvency, representing 81.6 percent of all cases. Small and medium-sized enterprises (SMEs) have fewer financial reserves to weather prolonged periods of hardship. The combination of increased energy costs, higher interest rates for refinancing, rising personnel costs, and growing bureaucracy is disproportionately affecting smaller businesses. Unlike large corporations, many cannot negotiate more favorable terms on the capital markets and are more dependent on bank loans, the conditions of which have deteriorated significantly since the interest rate turnaround. The German Chamber of Industry and Commerce (DIHK) warns of a domino effect, in which the insolvency of one company drags down clients, suppliers, and service providers, weakening entire regional value chains.
Related to this:
Are private individuals also affected?
Yes, parallel to the wave of corporate insolvencies, the number of consumer insolvencies is also rising significantly. Creditreform reports an increase of 6.5 percent to around 76,300 cases for 2025, the highest level since 2016. The main cause is the increasing over-indebtedness of the population. Nationwide, 5.67 million citizens are currently considered over-indebted. High living costs, job cuts, and rising unemployment are pushing many households to their financial limits. The wave of corporate insolvencies and the increase in personal bankruptcies reinforce each other: Lost jobs lead to income losses for employees, which in turn weakens consumption and intensifies the downward economic spiral.
What does the outlook for 2026 look like?
The outlook is not encouraging. Creditreform assumes that insolvency figures will not stagnate or even decline in 2026. Allianz Trade forecasts a further increase of three percent to around 25,050 cases. Patrik-Ludwig Hantzsch of Creditreform emphasizes that additional structural measures are needed, such as relief from electricity costs. A small glimmer of hope comes from the planned billions in government investment in infrastructure and defense, which could boost economic growth in 2026. The Association of German Chambers of Industry and Commerce (DIHK) is calling for decisive action on reducing bureaucracy, lowering energy costs, and providing tax relief so that a turnaround in insolvency figures is even possible. Leading indicators from the Halle Institute for Economic Research (IWH) suggest that the first quarter of 2026 will also see high insolvency figures. DIHK analyst Volker Treier has already stated that the outlook for 2026 offers little hope for a turnaround.
Is the Bild headline therefore justified?
The core message of the Bild newspaper is essentially correct. The calculation "a company goes bankrupt every 20 minutes" is based on official figures from the Federal Statistical Office and is a quote from the DIHK's chief analyst. Mathematically, this equates to approximately 21.8 minutes for 24,064 insolvencies, making the phrase "every 20 minutes" a slight but common journalistic simplification. The characterization as "shocking figures" is quite appropriate given the three-year trend with cumulative increases of over 65 percent since 2022 and the highest level in eleven years. However, the sensationalized headline lacks context: Insolvencies do not necessarily mean the end of a company, as many proceedings result in restructuring or a sale. Furthermore, the insolvency rate, measured against the total number of over 3.4 million companies in Germany, is still statistically relatively low. However, the dramatic portrayal reflects the real economic burden, which is made tangible by 57 billion euros in damages and 285,000 affected employees.
How do the insolvency figures compare to those of previous decades?
A look at the long series of data from the Federal Statistical Office since the introduction of the Insolvency Code in 1999 yields a surprising result: Historically speaking, the current wave of insolvencies is by no means the worst. On the contrary, it is significantly below the peak levels of the early 2000s.
| Period | Corporate insolvencies per year | Classification |
|---|---|---|
| 1996 | 25.530 | Before the Insolvency Code, former Federal Republic of Germany |
| 1999 | 26.476 | Introduction of the new insolvency law |
| 2001 | 32.278 | Rise after dot-com crisis |
| 2002 | 37.579 | Another sharp increase |
| 2003 | 39.320 | Absolute record value, historic high |
| 2004 | 39.213 | Almost constant record level |
| 2005 | 36.843 | Beginning of the decline |
| 2009 | 32.687 | Financial crisis, renewed increase |
| 2010 | 31.998 | The financial crisis subsides |
| 2014 | approximately 24,000 | Long-term low, record low |
| 2019 | 18.749 | Lowest level in a long time |
| 2020 | 15.841 | Historic record low due to Corona suspension |
| 2021 | 13.993 | Lowest level ever, artificially suppressed |
| 2022 | 14.590 | Beginning of normalization |
| 2023 | 17.814 | A sharp increase of 22.1 percent |
| 2024 | 21.812 | Further increase of 22.4 percent |
| 2025 | 24.064 | Current value, highest level since 2014 |
Following the introduction of the new insolvency law in 1999, with 26,476 cases, the number rose to 32,278 in 2001 as a result of the dot-com crisis and reached an all-time high of 39,320 corporate insolvencies in 2003, a figure that remains the historical peak to this day. A further increase was recorded during the financial crisis of 2009, with 32,687 insolvencies. Subsequently, a decline set in, leading to a long-term low of approximately 24,000 cases in 2014 and continuing until 2019 with 18,749 insolvencies. A special situation arose during the COVID-19 pandemic, in which the figures were artificially suppressed by the suspension of the obligation to file for insolvency, reaching historical record lows in 2020 (15,841) and 2021 (13,993). Since 2022, a normalization began with 14,590 insolvencies, followed by sharp increases in 2023 by 22.1% to 17,814 and in 2024 by a further 22.4% to 21,812 cases. The current figure for 2025 is 24,064, which is the highest level since 2014.
Is the current insolvency situation therefore dramatic, increased, unchanged, or lower?
The answer depends on the reference period and is more nuanced than the headline suggests. Compared to the absolute peak of 39,320 corporate insolvencies in 2003, the current level of 24,064 cases is around 39 percent lower. The current number is also significantly lower than during the financial crisis of 2008/2009, when over 29,000 and almost 33,000 companies, respectively, filed for insolvency. Throughout the entire decade from 2000 to 2010, the number of annual corporate insolvencies was consistently higher than today's figure, in some cases by more than 60 percent.
However, the situation looks different when measured against pre-pandemic levels. Compared to the years 2015 to 2019, when insolvencies remained consistently below 20,000, the current 24,064 cases represent a significant increase. Compared to the artificially suppressed low of just 13,993 insolvencies in 2021, the figures have almost doubled. The sharp rise since 2022, with three consecutive years of significant growth rates of over 22, 22, and 10 percent, is alarming.
The correct assessment is therefore: The insolvency rate is elevated and the dynamics are worrying, but historically speaking, the situation is not dramatic in the sense of an all-time record. The number is at the same level as around 2014, which, however, was celebrated as a record low after years of decline. Nevertheless, experts like Steffen Müller from the Halle Institute for Economic Research (IWH) warn that the figures can no longer be explained by catch-up effects and that structural economic problems are now the real driving force. What makes the situation particularly critical is not just the absolute number, but the speed of the increase, the record-high rise in large-scale insolvencies, and the total damage of €57 billion, which is far above previous figures.
Related to this:
How do experts assess the situation?
DIHK chief analyst Volker Treier called 2025 “an exceptionally weak year for Germany as a business location.” Steffen Müller, head of insolvency research at the Halle Institute for Economic Research (IWH), pointed out that insolvencies also represent a “necessary market correction,” “creating space for future-proof companies.” Creditreform CEO Patrik-Ludwig Hantzsch sees profound structural problems as the cause, not just cyclical fluctuations. Allianz Trade CEO Milo Bogaerts commented on the large-scale insolvencies, saying, “When things go wrong, they often go wrong hard.” The experts agree that without fundamental reforms to energy costs, bureaucracy, and the tax burden, no turnaround can be expected. The wave of insolvencies is therefore not a temporary phenomenon, but rather an expression of a profound economic crisis that calls Germany’s future viability into question.
SOURCE:
https://xpert.digital/en/a-bankruptcy-every-20-minutes/
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