By withdrawing its strong support in the form of cheap Russian gas, Germany has put itself in a difficult position. Now Berlin risks becoming “the sick man of Europe” again. This is according to the Japanese online edition of JB Press.
“The future of the German economy is not optimistic,” said the author of the publication Kazuhiko Fuji.
The author specified that Germany is experiencing difficulties in getting out of recession. In addition, the refusal from Russian gas has strongly affected the German chemical industry, which is considered the driver of the country’s economy. Berlin has been able to buy natural gas from Qatar and Norway, but prices for the resource are constantly rising.
Plants in the chemical, steel, aluminium and other German industries are also being relocated abroad due to high gas prices, leading to fears for the future of production, the author concluded.
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