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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Germany, the largest economy in Europe, is currently facing a combination of challenges that have pushed it into a precarious position. A rampant inflationary environment, energy crisis, and a struggling supply chain have created a triple whammy scenario for the country, which is now scrambling to avoid a full-fledged recession.
According to recent reports by the national statistics office, Germany’s inflation rate hit a 30-year high in November 2021, with the Consumer Price Index rising by 5.0%. This alarming rate of inflation, coupled with shortages in goods and supply chain disruptions, has led to price hikes across the board. This has put a strain on consumers, who are now facing higher prices for essential goods and services, such as food and energy bills.
The energy crisis has been compounded by an overall trend towards clean energy, especially as Germany is phasing out its nuclear energy facilities. Due to a lack of wind, low levels of rain, and insufficiently stocked gas supplies, electricity prices have surged – leading to further difficulties for households and businesses alike.
Additionally, Germany’s industrial sector – the backbone of its economy – has also been hit with supply chain disruptions. Supply chain difficulties, especially in the automotive sector, have led to lower production levels, which could impact the entire economy. Car production in Germany dropped by 22% in October 2021, the largest year-on-year decline in over a decade.
Given these challenges, policymakers in Berlin are scrambling to find solutions to prevent a recession. The government has already taken steps to help support low-income households with targeted subsidies, and to help firms struggling with higher energy costs. Meanwhile, the European Central Bank has also continued to maintain accommodative monetary policy, keeping interest rates low and accommodating inflation, in the hopes of further stimulating the economy.
The German government is also exploring ways to mitigate the energy crisis by ramping up investment into renewable energy projects, and increasing cooperation with energy suppliers in Europe. Simultaneously, policymakers have also announced measures aimed at boosting the country’s industrial sector, including fiscal stimulus aimed at creating jobs and boosting innovation in the manufacturing sector.
In the end, the German government’s efforts may prove decisive in steering Germany away from a potential recession. Still, much remains uncertain in the face of multiple, complex challenges facing the country at the same time. For now, policymakers and citizens alike can only wait to see how the German economy emerges from one of its most significant challenges to date.
I believe I should watch a video on "How to survive the current recession" given the circumstances. Really, it's a complete failure. That some people could still earn more than $408k in a short period of time astounded me. If that's the case, would you kindly elaborate?
Damn that brexit hitting Germany
The U.S. destroyed the Gas Pipeline infrastructure between Russia and Germany. That is an eviction. Destroying the gas infrastructure was never addressed by the European Union. Ursula von Der Leyen and Stoltenberg are American stooges inside the European Union. The European Union effectively has no leadership.
Obviously the U.S. led NATO is calling the shots and threatening Nuclear strikes on Russia in a first strike capability while holding the keys to U.S. weapons in Western Europe. Germany has been used by the Americans to wage wars in the oil rich Middle Eastern regions. This situation in Ukraine is an economic war. Ukraine is nothing more than a poor country with potential for the Americans to control food security in Africa in exchange for African minerals. Ukraine is the staging ground for a massive war which will involve nuclear weapons. Western Europe will be destroyed by the United States and Russia will destroy Washington and London.
Why hurting yourselves? why ruining your own economy? I don't get it. Do you want radicalism to be popular in Germany again? Schulz answer me.
reduce inflation with higher government treasury interest rates,; stimulate markets and economy through lowering consumer and mortgage interest rates by amount of inflation
german government officials mocked president trump when he warned them about russia . are they still laughing ? why aren't the german people laughing ? your arrogance has led you down the rosy red path to ruin .
Hopefully Germany learns to not be a baby in the US lap and make its own decisions
We need a new europe that pays its way not nations who just take out. Germany has paid far more to keep the failing group going ,its time for change
being a puppet of america has its cost
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You dont have to light yourself to give others warmth.
In August 2022, producer prices (industrial inflation) in Germany jumped by 45.8%, which is an absolute historical record since 1949, the year the statistical surveys began, the Federal Statistical Office (Destatis) officially announced.
139.0% – the rise in energy prices due to anti-Russian sanctions has become a decisive factor in record industrial inflation. 278.3% – the increase in the price of electricity made the main contribution to the increase in the price of energy carriers. Gas prices increased by 209.4%, fertilizers by 108.8%.
Meanwhile, Russia has found the “Holy Grail”. Russian scientists were the first in the world to launch an industrial fast neutron reactor, which uses exclusively nuclear waste from current nuclear power plants for its work. Simply put, Russia was the first in the world to create a truly green energy and perpetual motion machine. Experts compare this with the launch of the first artificial satellite. Or the first manned flight into space.
The transition to a closed nuclear fuel cycle is a strategic direction for the development of the nuclear industry, and in Russia its flagship is the Beloyarsk NPP, located in the Sverdlovsk region. It has four power units, and two of them operate on fast neutrons, which makes it possible to turn spent nuclear fuel into new fuel for nuclear power plants, forming a closed cycle of its use. In the future, it is possible to provide them with nuclear energy for millennia to come, making it waste-free, and then fast neutron reactors will become a kind of perpetual motion machines that will supply consumers with cheap electricity.
Good bye german industry. America is getting what it wanted
Things like this make you think that Trump was the right guy to get the job as a world-leading leader. Too much chaos under Biden, smh.
All COUNTRY
Thanks To Biden
World War 3 Crisis Foods In Def Russian Still On
About Holy War????
Let's JUST Put Standby
Well Biden Still.Dont want Stop Atk Russian……
Let's Talk That Leter
Energy Crisis
Dollar Give Problem
Sun Already Move
Winter In What Lvl Danger
Do Other Counter Get Heat like China???
Belalang Juta Muncul Dan Serang Semua Makanan(No Idea,Is Note Exits)(I lie is EXITS)
Put Blame Russian. With No Proof ,and Make war Long…..
Crisis Food Start Bec America Biden …..
Petrol Energy Cut
Everything Is Expansive
Nothing Resources In Ground ,Dying Bec Sun,Winter And Sun January 2023
STARSHIP TROOPERS……
BETRATE On Mars……
=
Who should We Blame THIS Time??????
(Israel/Biden/Europe/zelensky,NATO,80 Flat)
(Thank You for They all CORRUPTED,is Making A Worst…… ever)
Let's Interview Ask Biden
Why…………..,Let CNN Ask Biden Why??????
I want ask THIS Crisis Food For How Long In Next Year??????
Oh And Elon Geniouse Is Talking about Robot AI…….
Nothing About
How we can Repoduction Food Around Of World……
Secret Helping Biden after Tell The World,Biden Hate Me…..
Again????,sry???,What did You say?????
Biden Hate You???????
You Helping Biden To New Crisis And Then You talking About Robot AI?????
What Kind Human Both OF You????????
I still No Have Idea About women Iran
Bec I want Hear IT
About ThEy tryfind Word Injustice Women In Iran……
I still Not Heard That……..
Pls Send Any Video Comment
About what Injustice Leader Iran Did??????
We want Hear What Voice You Will Throw To Us
(Hope Not Europe Pretending This Time,Bec Confirm Putin will Get Mad,And say This Again?????,in Iran??????,Why????????)
Dient Deutschland richtig, weil es eine US-Kröte ist, die sich ihnen im illegalen Krieg gegen Russland anschließt, und illegale Wirtschaftssanktionen, die beide Währungen abwerten.
In short,we cant save a penny in winter.
Trump was right all along. Bring him back 2024. We don't need another Biden, Kamala and Pelosi!
Germany should take the little Swedish privileged angry teen more seriously and rely solely on windmill and solar power.
The only effect the sanctions have, is it accelerates the collapse of German economy.
Far right be like: Our time to shine is coming.
To little, too late. Germany blew it
No worries. Yanks blow up the gas pipeline then offer to sell good ol American gas to Europe
that is inflationary – they should simply broker peace in Ukraine w the US. we can no longer afford to let this war tumble over for a decade which is sadly what it will b b cuz the delusion that Putin is feeling sanctions is ridiculous & false – they r surrounded by NATO – they have warned this is a no go for deacdes & yet the US still chose to invite in Ukraine when this was a final straw – we cannot wait for a regime change which won't come & his oligarchs have NO control over him Putin does NOT back down ever in his life – the poorest countries r facing famines disease the border crisis's across the world after 77 years of wars ++++ we need peace we need global cooperation now b cuz the changing world order is already painful enough w the US sacrificing their role after their losing wars $ printing since GFC & the rise of Trumpism that threatens the stability of the America we once knew – we NEED women in the State Dept who can bring sophistication creativity & diplomacy where the US & its allies seem 2 have forgotten is an option
Germany made a very bad decision for its citizens , cutting of Russian oil will leave Germany in a disaster
You have to understand, the sanctions are not there to punish Russia, it's to destroy the western civilization as you knew it….
Why ? Because you guys can’t import from Russia? Russia war in Ukraine create this ? Of course not. Is the sanctions what the politicians create against Russia It is not Russia fault. Are you guys crazy to make news now ?
Germans laughed at Trump when he told them that this would happen.
PEOPLE IN DARK AND COLD WANT MORE WEAPONS.
iam talking abt north korea
Cash assistance. Aaaaaaaaaaaaaaaaaaaaaa ha ha ha ha haaaaaaa.
That is going to inflate your inflation.
And after "cash assistance"? Gas and oil prices will never be as cheap as before.
What are you going to do about that? Keep cash assisting the economy?
But there will be no economy cause manufacturers are closing their plants.
Germany will pay an excellent price for its racism and russophobia toward Russia.
Workshops are shutting down. Workers are getting lay off. Pandemic will rise again due to climatechange in Europe and East Africa. Lets cut electric power for few hours daily particularly in residential area so that people get updated to using Solar panel which may be only source of power in near future.
Germany …The greater the rise, the greater the fall! Do not look for the locomotive of Europe and the others EU countries will be it worse in economic terms. The difference the people over there is used to live with difficulties, that is not the case of Germany Think on that, Germany will is the beginning of the end…sorry. All economic crimes made to other EU countries with your EU Socialist mindset will hit Germany and the rest, but as I said you were big and here there is no too big to fail has you made with Deutsche Bank. In other EU countries you ask money from the state to recovery the bad banks (Bail-out) with your DB that is insolvent, what you have done? The invoice comes late but arrives some day!
The cause of high energy prices is not Russian war on Ukraine. German war on Russia is the cause of high energy prices!!! Get that right Mr. Reporter
EU is dead. Your own elites killed It by order of US. It is now up to German people to decide if they wants to survive as great nation or continue down with rest of EU. Where do you think high skilled labour will migrate? Russia, China and India. Take your pick.
Scrambles to avoid recession? How about depression??
I am aware there are exotic energy sources under development like Brilliant Light Power Suncell, Rossi E-Cat, and Q Hydrogen that could replace fossil fuels. But those sources of energy are not going to solve the global energy crisis in the near term.
Don't believe anything you see on DW, they were cheering when Germany killed its energy production…so proud of their green brains. Someone should cancel their license, these guys are not journalists but activists whingeing all the time and every time…doom and gloom, nothing positive ever. And always against European culture but in favor of any culture that comes to the EU
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks (with the help of my Financial Advisor of course) and made about 246k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million.
Just short the dax