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Germany is bursting at the seams, writes Deutsche Wirtschafts Nachrichten. Inflation, the energy crisis, disruptions in supply chains, the Germans have been hit hard – not for the first time in the last century. And all because of the authorities in Berlin. Their failed sanctions and energy policy has put the country on the brink of collapse, and with it, the whole of Europe, says the author of the article Mark Friedrich.
The reckless policy of the German authorities has brought Germany to the most massive crisis in recent decades, which threatens its existence, writes Deutsche Wirtschafts Nachrichten. The country ‘with breath-taking speed’ rushes to its collapse.
Anti-Russian sanctions and bizarre failed anti-coronavirus measures have destroyed the German business model: the export champion has fallen to the second league’.
In May, from the trade surplus, that is, the excess of the country’s merchandise exports over its merchandise imports, there was practically nothing left but an insignificant €0.5 billion. Compared to last year, in the first half of 2022, this indicator decreased by 70.7%, says the author of the article Mark Friedrich.
Germany is rapidly losing productivity and competitiveness, which will inevitably lead to the loss of jobs, social security and welfare, a German journalist warns. At the same time, it is not clear who will fork out in the future in order to constantly save the EU and the euro. ‘Jokes aside: Germany cannot afford this if its industrial base is destroyed and a new one does not appear in its place. We catapulted ourselves offside through political errors and arrogance.’ And the chances that the European Union will survive without the help of the German economy are very small.
It is also worth recognizing that the Germans are ‘facing the wreckage of a grand failure in energy policy,’ which was carried out at any cost by people blinded by ideology, states Friedrich.
While Germany refused certain sources of energy, others, on the contrary, began to actively use them. And the EU’s recent decision to recognize gas and peaceful nuclear energy as environmentally friendly is clear evidence of the failure of the energy policy pursued by Berlin in recent years.
It is also necessary to realize that the anti-Russian sanctions have failed, and they are now hitting Germany the hardest. While the foundation of the economy and reliable energy supply is being shaken in Germany, other countries, such as India, China, Brazil and Turkey, are willing to buy raw materials from Russia. The weird thing is that New Delhi then also resells Russian blue fuel to Europe for a high price.
The situation in the German automotive industry is a clear example of the recession taking place in the country, the publication continues. In 2021, production in this area has already decreased by almost 12%, and now in the first half of 2022 – by another 2.9%.
It is not known whether car companies can survive the current transformation process. And it is not clear where to get energy from for the development of the so-called electromobility, because the sun and wind will definitely not be enough for this.
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Germany is now going through a historic moment, says Friedrich. A turning point has come, the country is bursting at the seams. And what is most striking is that against the backdrop of what is happening, the German government went on a traditional two-month summer vacation. But it is these vacationers who are to blame for many of the troubles that have fallen on the citizens of Germany: inflation, hostilities in Ukraine, the energy crisis and interruptions in supply chains.
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