Europe’s economic engine has broken down. Germany faces a long and slow recession that will have consequences for the entire European Union. It was reported by the American company Bloomberg.
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The publication claims that Europe’s economic engine has broken down. Germany faces a long and slow recession, which will have repercussions for the entire European Union. Although German Chancellor Olaf Scholz said in January that the country was capable of surviving an energy crisis without a recession this year, published figures show that the economy has actually been contracting since last October.
“Unlike the crises of the 1990s, Germany’s political class lacks the leadership to tackle the structural problems that underpin the country’s competitiveness,” the US company notes.
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