Germany’s Economy takes a sharp blow according to reports from Express, Who is reporting that the Deutsche Bank will shut down 188 branches across Germany in the coming months, with 51 of them in the North Rhine-Westphalia region.

Deutsche Bank has been forced to implement dramatic austerity measures after share prices dropped by a staggering 48% marking an all-time low.  According to the report, It has also pulled out of 10 foreign markets, including Russia and Australia, and is poised to cut around 3,000 full-time jobs.