There were 8,400 corporate insolvencies in Germany from January to June, up 16.2% from the first half of 2022 and the biggest percentage increase in more than 20 years
Energy intensive manufacturing industries cannot remain competitive importing LNG from the US at 50% more than the previous cost of Russian gas, so German companies will have to relocate to where the energy is cheaper (US) or labour cost is cheaper (China) in order to stay in business at all. With alternative energy sources at least 10-15 years away, the German people will unfortunately, but understandably, seek alternative political options (AfD...etc)
11 comments
[ 108 ms ] story [ 1291 ms ] threadI'm not defending Russia but just want to say that EU should've delt the situation in more pragmatic way.
What other options did you have in mind?
Look what pope was doing.
Germany and Europe are the big losers in this war