Robert Habeck has been one of the Green Party's two co-leaders since 2018. Image: Michael Kappeler/dpa/picture alliance
Politico: Germany faces 5 tough years, economy minister warns
Berlin should borrow money to subsidize energy for companies or risk losing its industry, Robert Habeck cautions.
Germany faces five difficult years of green industrial transition that "will put a burden" on people, Economy Minister Robert Habeck warned — while urging his government to approve fresh subsidies to safeguard the country's industrial base.
Reacting to a new report by the International Monetary Fund that projects Germany's economy will shrink 0.3 percentage points this year, Habeck told German public broadcaster ARD on Wednesday evening, "The data certainly isn't good."
Germany's statistical office had already warned in May that the country entered into a recession. Some of Germany's biggest companies have begun to ditch the fatherland, triggering fears of deindustrialization.
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WNU Editor: I have a few friends in Germany. They cannot believe what is happening to their country. The German economy is being de-industrialized in front of everyone's eyes. And now this .... Germany expected to be only major economy not to grow this year (Euronews/AP).
It should be noted that there was a time when Robert Habeck, one of two co-leaders of the Greens, was the most popular politician in Germany (link here). Is he still the most popular politician in Germany? Not if this economic disaster continues.
Update: The Duran were the first to talk about the de-industrialization of Germany. Their analysis (below) on where this is leading to is a must see.