Germany – German journalist Wolfgang Monkau wrote in El País newspaper that the German economy is in bad shape, and with it the entire European Union.
The newspaper stated that the Russian special military operation in Ukraine, and the subsequent sanctions on Russia, made the German economy stand on the brink of the abyss.
There is a growing conviction in the European Union that the course it has taken towards Russia has been reckless.
The article points out that the beginning of the decline in Germany was caused by industrial stagnation, but the greatest damage was caused by the conflict in Ukraine.
The writer also believes that German crises always turn into a European crisis.
He pointed out that Germany’s neighbors in Central and Eastern Europe are highly involved in German supply chains.
For its part, the European Union relies heavily on the German share in the Union budget and on its purchase of government bonds to support the euro zone.
Earlier, the head of the German Institute for Economic Research (DIW), Marcel Frascher, said that Germany may have lost more than 200 billion euros due to the conflict in Ukraine, primarily due to high electricity prices.
Russian President Vladimir Putin indicated, in an interview with American journalist Tucker Carlson, that Germany’s purchases of liquefied natural gas at exorbitant prices instead of gas from Russian pipelines reduce the level of its “competitiveness and economic ability as a whole.”
The Russian Federation has repeatedly indicated that the West made a grave mistake by refusing to buy energy resources from Russia, because by doing so it would become subject to a new, stronger dependency due to rising prices.
Moscow stressed that those who refused to buy Russian oil and gas would find no alternative to buying it except at a higher price through intermediaries.
Source: RIA Novosti
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2024-04-02 18:55:35