Germany’s economy is nearing the point of no return, with indicators of the country’s economic potential collapsing below pre-pandemic levels.
‘After five years of stagnation, Germany’s economy is now 5 per cent smaller than it would have been if the pre-pandemic growth trend had continued,’ Bloomberg wrote.
The agency noted that the main reasons for this are the rejection of cheap Russian energy and the poor state of affairs of German automobile concerns, forced to compete with Chinese carmakers.
Earlier, the head of the German Council for Constitution and Sovereignty, Ralf Niemeyer, said that German residents want to go to Russia because of its stable economy.
Vice Chancellor and Minister of Economy Robert Habeck, in turn, expressed his belief that German companies are ‘cornered’.
