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Russia Gas Stop Would Trigger 2009-Style Slump, Commerzbank Says

Commerzbank AG warned that Germany could face a slump similar to the contraction seen after the 2008 financial crisis if Russia were to cut off gas supplies.

A bellwether for Europe’s largest economy because it caters to Germany’s small and medium-sized companies, Commerzbank said it would expect to set aside another 500 million euros ($509 million) to 600 million euros for bad loans as a result. Last week, larger rival Deutsche Bank AG warned it would have to stash an additional 1 billion euros over two years in such a scenario.