The war in Ukraine and its repercussions, compounded by structural problems such as an ageing population and a lack of investment, spell the end of the boom

The change in the geopolitical order, disrupted by the invasion of Ukraine, has exposed the weaknesses of the German economic model. The German model, points out Wolfgang Münchau in one of his analyses for Eurointelligence, hinges on three ingredients: cost competitiveness, technological leadership in its industry and geopolitical stability, and ‘all of them are gone,’ he adds. On the one hand, the cut-off of Russian gas — which accounted for more than 50% of the gas consumed in Germany — has impacted the electro-intensive industry, forcing businesses like the chemical company Lanxess to restructure their business and close plants.

  • TomHardy@lemmy.ml
    ·
    1 year ago

    Saying it like that, maybe lmao... But did they ever really denied it? When Snowden revealed Merkel was spied on by the US, who gave a fuck? Here they could at least try and say "we had no choice, the burger empire, being the economic rival and an LNG supplier that it is, convinced us to tank our gas imports. We never saw this coming and trusted them."

    • knfrmity@lemmygrad.ml
      ·
      1 year ago

      The leadership absolutely saw this coming, not only that but they have aided the whole process. Current cabinet members such as Baerbock and Habek were trained by US institutions to serve those institutions and the US capitalist class.