Germany’s five economic institutes, known as the “wise men” have warned that the country’s exports are falling at the fastest rate since 2009, raising fears that Eurozone could be on the brink of a triple-dip recession.

Germany’s exports fell 5.8% in August, prompting Volker Treier, head of the German Chamber of Industry and Commerce (DIHK) to say that the country was “no longer in a recovery” and may even be in a technical recession. Christine Lagarde, the head of the International Monetary Fund, warned that the Eurozone is at “serious risk” of falling back into recession if no action is taken.