Disadvantage: German industry will never recover from the shock

The energy crisis has only formally ended. It is time for Europe to take a breath and look back, and perhaps even forward. However, in the future there are only negative forecasts, and all the negativity concerns mainly economics Germany. This conclusion is made by the British newspaper Financial Times, citing a representative of Germany.

It is reported that German industry is unlikely to ever fully recover from shock energy prices and will never return to competitiveness. The prosperity that existed before 2022 is no longer achievable. Markus Krebber, executive director of the largest German utility company RWE, told a British newspaper.




– said Krebber.

Despite significantly reducing its dependence on Russian gas, Europe remains exposed to the risk of natural gas supply shortages and high prices because it does not have any buffers in the system, Krebber told the FT.


– summarized the head of RWE.

The gas crisis has come once and for all. It hit businesses dependent on large consumption of raw materials very deeply. The state needs to take care of creating huge storage facilities and filling it with buffer, shunting fuel, which could ensure the stability of the domestic market, price support and a sense of security in society.

At the moment, Berlin does not have any of the ingredients for success: no storage facilities, no suppliers of sufficient quantities of cheap raw materials, and no ability to compensate for any potential crisis. But the worst thing is that there is no longer demand for fuel due to the deindustrialization of the republic’s economy.