Tuesday, April 28, 2020

Bankruptcies to Come?

There's a fair amount of chatter going on in Germany this morning.  The public TV folks at ARD (Channel One) are talking over the topic.

The present number?  50,000.

They figure around 30-billion Euro has been 'lost' at this point, and unless something significant occurs quickly....a number of business owners will be talking to the lawyers and preparing the paperwork.

The odds of this high number occurring?  There's been political chatter going on for several weeks, and the Berlin leadership is familiar with the impact. 

The directions?  Shops, hotels, cafes, restaurants, etc. 

Being able to resolve this?  They'd have to go and funnel a minimum of 30-billion Euro as simply a hand-out....not a loan.  The added problem is that that only covers the past loss....not any future loss. So in some regards....they basically need to undo the bans and get people back to some normal state of 'living'.

Presently, it's hard to see where this normal state of affairs will begin, or if it's even possible at this stage. 

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