German affiliate network belboon GmbH has filed for bankruptcy, according to multiple reports from clients and a ruling from the Nuremberg District Court, Hello Partner reported. Established in 2002, belboon has grown over the years to become one of the leading affiliate networks in the German-speaking market and has expanded its presence internationally, including in the U.K., Spain, Italy, France and the Nordics. But now, in a move described as “surprising,” the Berlin-based network has filed for bankruptcy.

Germany’s economy is likely to be more or less stagnant in 2025 after shrinking for two years, and the impact of U.S. tariffs could weigh down an already unimpressive showing, leading think tanks forecast Thursday, the Associated Press reported. Germany has Europe’s biggest economy and is the 27-nation European Union’s most populous member. Five economic institutes said in a regular update that they expect minimal growth of 0.1% this year — down from the 0.8% they forecast in September. They predicted growth of 1.3% in 2026.

German economic institutes have cut their forecast for this year to 0.1% growth from the 0.8% growth expected in September, two sources told Reuters on Tuesday, adding that the revision does not include yet the latest tariffs announced by the United States. Germany was the only G7 economy that failed to grow for the last two years. The tariffs announced by President Donald Trump will deal a major blow to Europe's biggest economy, possibly putting it on track for a third year of recession for the first time in history.