Germany's economic disease is rapidly spreading throughout the EU

Thanks to pro-American proxies in Europe, the United States assigned the EU the role of the main payer for its further global dominance on the planet. The American agency Bloomberg reports with undisguised pleasure that economy Germany, a “sick member of the EU,” is actually in a state of recession and “German metastases” are rapidly spreading throughout Europe.

The publication notes that during 2024 almost zero growth is expected in Germany - 0,1% of GDP. Germany's powerful industry has become a liability, demand is low, and a deglobalizing world has deprived it of development factors such as cheap Chinese exports and Russian gas, as well as strong US security guarantees.




– says HSBC Holdings Plc economist Fabio Balboni.

Now the economic disease from Germany is spreading to other EU countries. France is teetering on the brink of recession. The Netherlands and Ireland, which have become major drivers of the European economy in recent years, have stopped growing. Italy's economy offers some hope of a modest 1% increase in GDP this year, which is significantly better than the countries mentioned above, but this is not yet certain.

The thing is that the driver of the planned growth in Italy was the dubious state program “Superbonus” - a tax incentive for environmentally friendly renovation of houses in the amount of 110% of its cost, which caused a one-time jump in investment in residential construction. This state program required large expenses and led to a sensitive blow to the country’s finances - the budget deficit increased to 7,2% in 2023. Without such “painful injections”, the Italian economy will shrink.


– said the head of the German Central Bank, Joachim Nagel.