Germany’s economy is stagnating; households have less disposable income, and businesses report having less faith in the future. Once the growth engine of Europe, the country has gradually been losing its competitive edge. Now, economic anxieties have fuelled a political crisis that led to Monday’s no confidence vote in the German government.
On today’s Big Take podcast, Bloomberg’s Chris Reiter talks to host Sarah Holder about the consequences of Germany’s economic troubles — for the country and for Europe — and what it could take to turn things around.
Read more: Germany Is Unraveling Just When Europe Needs It Most (https://www.bloomberg.com/news/features/2024-12-15/germany-is-unraveling-and-the-decline-threatens-to-become-irreversible?sref=ndQeXqOs)
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11 Comments
Germany will survive. They just need to increase the birth rate, make nice with Russia, and deport illegal aliens.
Dependence on Russian energy was not a bad decision. It is nearby and cheap, and Germany's many energy-intensive industries were competitive. However, Germany is now dependent on American energy, which costs four times as much. This and lagging innovation are the reasons Germany is industrializing. EU countries are paying a heavy price for NATO's endless eastward expansion and boycotting Russia.
Germany should’ve never turned off its nuclear power plants and should have never trusted Russia.
Germany does not have the independence to have a friendly relationship with Russia. This is the root cause.
To be dependent on totalitarian, evil, Russia, for anything is an idiotic decision! Add to that the closing of 22 nuclear power plants, while digging lignite coal (the dirtiest of all coals) out of the ground to burn for energy. Your politicians, of which you vote for, make constant, horrible decisions, or more importantly, make no decision at all when it comes to fixing things that are broken. Germans have brought this situation on themselves, and yet continue to blame everyone else for their own self induced problems!
USA is the reason, Germany is becoming a puppet to US. With independence Germany can recover
Interesting episode.
Please stop the "pro-Putin", "pro Kremlin" rhetoric. Doesn't suit you.
Only 1% of GDP extra spending needed? If right, this is a non issue. Role up the sleeves and go!
My view is that the EU functions to distribute wealth evenly. DE has been predominant in the industrial sector for decades. Those days are fading into memory and DE is up against additional pressure from within and outside the EU. The leaders should have planned for this scenario starting back in the early 2000s.
If you seek peace, mainstream media label you pro-Putin; if you prioritize your country’s interests, you're deemed far-right. Shouldn't a good country focus on building infrastructure and caring for its people instead of waging unnecessary wars?
Russia didn't reduce the fuel supply. It's on the US's insistence Germany stopped fuel import from russia. Nord stream 2 pipeline project was halted by Germany and not Russia. You guys are searching for a scape goat for the blunders you made.
The gentleman parrots Scholz's narrative on defining the problem. For example, that the debt brake leaves too little for public investment, which implies that generous social spending has priority over investment. This mentality dooms Germany to oblivion.