Business & Economy

Three months to save Germany itself

A Western agency has indicated the difficult economic situation that the largest European economy may suffer in the coming months, noting that Germany has only three months to save itself before entering a severe energy crisis.

This was stated in the article published by “Bloomberg”, under the title (Germany has three months to save itself from the winter gas crisis), that the presidential palace in Berlin is no longer lit at night, and the city of Hanover, closed hot water from bathrooms in swimming pools and gyms, and that municipalities It is setting up heating centers across the country to keep people safe from the cold, noting that these measures are “only the beginning of a crisis that will spread across Europe.”

The newspaper also revealed that summer is currently still in its peak, but Berlin “does not have much time to waste to avoid an energy shortage this winter, which will be unprecedented for a developed country.”

The report noted that “a large part of Europe is feeling the pressure caused by Russia’s reduction in natural gas supplies, yet no other country is as vulnerable as the largest economy in the region (Germany), where nearly half of homes depend on fuel for heating.”

The newspaper quoted German Vice Chancellor and Minister of Economy, Robert Habeck, who said after unveiling a plan to transfer cost increases from energy companies to consumers, “The challenges we face are enormous and affect important areas of the economy and society. But we are a strong country and a strong democracy. These are preconditions. Good for overcoming this crisis,” he said.

The report also revealed that rationing and economic stagnation are looming for Germany, noting that the authorities have expressed “concern about social unrest if the energy shortage gets out of control.”

The report pointed out that Germany cannot rely on France, “where nuclear reactors (with defects) exacerbate the gas crisis, as electricity prices in the two largest economies in Europe (Germany and France) rose to record levels last week.”

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