Germany plans reform to avoid bankruptcy wave due to corona | THE DAILY STAR

Germany would relax insolvency rules under proposals set out Saturday to help avert a wave of bankruptcies in Europe's biggest economy, provided companies hit by the coronavirus crisis have a robust business model.

Keen to avoid bankruptcies and mass layoffs, Chancellor Angela Merkel's government has launched a range of stimulus and relief measures as Germany braces for its biggest slump since World War Two, having shrunk by an unprecedented 9.7 percent in the second quarter.