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The state protective shield for exporters and suppliers has failed. The first credit insurers are pulling out of negotiations with the federal government. Aid comes too late and it’s too bureaucratic.
Vienna In the next three weeks, much of the country will stand still. While the government is still fine-tuning the tools to help companies overcome the lockdown, many domestic companies face entirely different problems: They are already suffering the first omens of the wave of bankruptcies that will likely hit Austria in 2021. So companies are able to sell their products with reasonable care, they usually outsource the risk of default from their customers to credit insurers. But since the outbreak of the pandemic, insurers fear the impending wave of bankruptcies and have been holding back. The result: many national companies have to reject orders out of concern for the solvency of their customers, or take the total risk.
