As the economic war with Russia rages on, energy prices rise and rise. Meanwhile, the fear of a huge wave of bankruptcies is growing in business and politics.

Companies in fear mode: A new study by the industry association BDI fuels fears of how much the sharply rising energy prices are causing problems for German companies. As the “Spiegel” reports, 58 percent of the companies are facing “major challenges”, 34 percent even fear for their existence.

Trade sends SOS: But the mood is not only bad in industry. Hans Peter Wollseifer, President of the Central Association of German Crafts (ZDH), told the “Rheinische Post”: “Every day we receive emergency calls from companies that are about to stop their production because they can no longer pay the enormously increased energy bills.”