Declining Trend in Insolvencies is Forecast for 2011

Business › Economy ♦ Published: February 16, 2011; 00:04 ♦ (Vindobona)

2011 brings a slight decline in insolvencies to Austria, but the economic recovery will not suffice for a substantial change in the trend.

Declining Trend in Insolvencies is Forecast for 2011 / Picture: © Vindobona.org

Euler Hermes, the parent company of PRISMA, analyzes the worldwide situation concerning insolvency twice a year.

After two subsequent record rises, last year’s worldwide drop of 4% points in the right direction. The trend is expected to continue in 2011 with minus 5%. PRISMA considers that the worldwide decline in bankruptcies is related to support measures such as tax cuts and…

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