Rising Bankruptcy Fears in Eastern Europe

BusinessEconomy ♦ Published: February 9, 2011; 00:32 ♦ (Vindobona)

The Austrian Creditor Protection Association “Creditreform” foresees a further rise in bankruptcies in Eastern Europe. The economic crisis is not over yet.

Rising Bankruptcy Fears in Eastern Europe / Picture: © Vindobona.org

Despite the economic recovery, there has been only little improvement regarding in business insolvencies in Europe. 1.4% fewer insolvencies were reported Western Europe; the figure rose however by 14.1% in the CEE region.

Contrary to the West European trend, there were massive increases mainly in Italy, Portugal and Switzerland. In Central and Eastern Europe, business failures…