The German government is vowing rapid cash-assistance for small- and mid-size companies facing massive energy-bills this winter. The German economy-minister meeting today with industry groups from across the country. They’ve been pressuring Berlin for help as energy-prices soar to record-heights and leave them unable to pass costs along to consumers. Some firms are already lowering production. Industry-leaders are meanwhile warning of growing insolvencies. Economists are now projecting a ‘winter recession’ for Germany saying the economy will contract in 2023. Recent figures are already drawing an increasingly grim outlook: New data confirms an annual inflation rate of almost 8-percent in August. Higher prices cut into purchasing power making it difficult for consumers to afford the same things they could a year prior. Soaring energy-costs are driving that inflation led by natural gas: The European benchmark is now three-quarters more expensive than it was this time last year. Russia’s war on Ukraine is largely responsible for that trend. Another worrying figure is the growing number of insolvencies in Germany or companies that cannot cover their debts or liabilities. That figure rose 6.6 percent in July from the prior-month those are the last fresh figures we have.
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#Inflation #Economy #energycrisis
20 Comments
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Paging Greta Thundberg
Germans will freeze this winter. Printing money will merely drive inflation. Money doesn't heat homes, gas does. Increasing supply while ALSO working on alternative energy. The 'green" movement caused this crisis…..leftist ideologues caused this crisis. Germans and Europe in general, will now pay the price for their ideological folly.
My question is, which European government will topple first?
Thw American WILL LOOSE its unfair advantage of the world's reserve currency
The AMERICAN'S will start a war to protect this
War is very good business for AMERICA
Especially if it's in someone else's country
No doubts DW, your behavior is difficult to understand but it might be a plan, I don’t see this channel so often cuz is part of the collective west mass medía, nothing to rely on
Why don’t you try to cap US gas price??
I have good news for Germany. When many businesses go under this autumn, the need for energy decreases and then the energy prices go down.
The Germans have only themselves to blame. How can you be a sovereign nation and have a 100% dependence on a country like Russia for all your energy needs. Stupidity.
The main problem is the european union leaders
Wow it looks like closing down Nuclear power plants that were producing billions worth of energy was a bad idea? Who could had predicted that….?
‘’Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off."
Keep printing money, keep taking what in not your property just because you chosen to be lied by NATO and your government has been pushed to voluntary destruct your economy.
Shame on you Germany
Germans only need to burn their governor's lies. They could even export energy.
Russia just need to stopped all gas to Germany and other EU nations for the next 3 years….and u will see crazy inflation rates and major recessions in Germany and most of EU as well
Everybody can get from other alternative suppliers….but not at the same heavily discounted wholesale costs like the good old days from Russia….that means mega inflations hitting EU
So the wind turbines, Ant the solar panels aren't producing enough energy…..Say it ain't so …
Well do Germany,
Please opt out of the war and get Europe great again. Yes you can, Germany. As you made Germany greater than the US before, please make Europe greater than China too. Yes you can!!
The end of UE 😫🤔
Liberals do not understand economics, they are too emotional and will not tame their egos to learn. Literally, the liberal mind can be 100% wrong for decades strait, but can't admit it because of their ego.
germany is not a independent country any more after merkle.
This is just the first winter, and Murphy’s Law seems to be in full effect buckle down Europe.