Germany is facing a significant rise in business insolvencies due to an ongoing economic downturn, with a 24.3% increase compared to the previous year, totaling approximately 22,400 cases. This surge is attributed to the lingering effects of the COVID-19 pandemic,…

Consumer debt in Germany has decreased slightly in 2024, according to Creditreform’s ‘Schuldneratlas.’ However, this decline is attributed to consumer uncertainty and a tendency to save money due to economic fears. Over 5.5 million people are classified as over-indebted, with…