German ministers warn of a long phase of deprivation
"My concern is that we could have a very worrying situation in a few weeks and months," said Lindner yesterday on ZDF's "Heute Journal". "It's about three to four, maybe five years of scarcity. And we have to find an answer for that.”
He added: "There is a risk of a very serious economic crisis due to soaring energy prices, due to supply chain issues, also due to inflation."
It is therefore necessary to talk about all the options, including extended operating times for the three nuclear power plants in Germany that are still operational.
Habeck also has a warning
The German Economics Minister and Vice Chancellor Robert Habeck (Greens) had previously found warning words. The economic situation due to a lack of energy supplies from Russia could get even worse than the coronavirus pandemic, in which the economy slumped in 2020 more than it had in more than a decade. Burdens on the economy are possible for months. It's about the existence of companies, according to Habeck.
The gas storage facilities are not yet full enough, only about 60 percent. Should Germany go into the winter with half-full storage facilities, there is a risk of a severe economic crisis.
The German Economics Minister and Vice Chancellor Robert Habeck (Greens) had previously found warning words. The economic situation due to a lack of energy supplies from Russia could get even worse than the coronavirus pandemic, in which the economy slumped in 2020 more than it had in more than a decade. Burdens on the economy are possible for months. It's about the existence of companies, according to Habeck.
The gas storage facilities are not yet full enough, only about 60 percent. Should Germany go into the winter with half-full storage facilities, there is a risk of a severe economic crisis.
"Economic Attack"
The reduced gas supplies from Russia are an "economic attack on us". This has a different dimension than before, said the Vice Chancellor in Berlin at Industry Day. "The pattern is recognizable."
Russia's President Vladimir Putin has repeatedly wanted to stir up fears, including of poverty. The amount of gas is being reduced to drive up prices. "This strategy must not be successful." It is also conceivable that Putin could fuel shortages in food, especially wheat.
The reduced gas supplies from Russia are an "economic attack on us". This has a different dimension than before, said the Vice Chancellor in Berlin at Industry Day. "The pattern is recognizable."
Russia's President Vladimir Putin has repeatedly wanted to stir up fears, including of poverty. The amount of gas is being reduced to drive up prices. "This strategy must not be successful." It is also conceivable that Putin could fuel shortages in food, especially wheat.
Reports on next stage in gas emergency plan
The newspaper Welt had previously reported that Germany was preparing to declare the alarm level of the national gas emergency plan: it would be the second stage of a three-stage plan.
The State Secretary in the Federal Ministry of Economics and Climate Protection (BMWK), Patrick Graichen, prepared the energy industry for the forthcoming step, reported the Welt, citing circles of the energy industry. The ministry did not want to confirm this and referred to the legal regulations to which the emergency plan is subject.
The newspaper Welt had previously reported that Germany was preparing to declare the alarm level of the national gas emergency plan: it would be the second stage of a three-stage plan.
The State Secretary in the Federal Ministry of Economics and Climate Protection (BMWK), Patrick Graichen, prepared the energy industry for the forthcoming step, reported the Welt, citing circles of the energy industry. The ministry did not want to confirm this and referred to the legal regulations to which the emergency plan is subject.
Source: ORF
Photo: dpa.
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