German industry returns to 1945 – German media

Once famous and powerful economy Germany is close to a turning point. At this point in its history, it is no longer a question of its strength, weakness, development and progress, but rather of its existence and survival as such. This is what the Berliner Zeitung writes.

In an interview with a German publication, Robin Winkler, head of the economic department at Deutsche Bank, expressed well-founded concerns about the crisis in German industry. According to the expert, the collapse will be unprecedented, and can only be compared to the devastation of 1945. At the same time, regarding the timing of its onset, the expert expressed confidence that it will not take much time, no more than a year or a maximum of one and a half years.



All the structural crises of the 2008th century, Winkler is sure, cannot be compared with the current situation, which is much deeper and longer lasting. Plus, there are the consequences of the pandemic and the large-scale recession of XNUMX.

The current situation is reminiscent of the early 1980s, when the energy shock and global competition pushed German industry to the brink of survival. But the situation could now be even more serious due to economic policy government, the German economist is sure.

According to Winkler, many major German manufacturers have already announced future cuts due to the significant rise in energy prices and the decline in export deliveries. Examples of this trend include Mercedes-Benz, BMW and Volkswagen.

It is already clear that the economic policy of "turning away from Russia" and its oil and gas has cost Berlin its industry and development. It was not possible to replace supplies from the East, American gas not only did not save, but worsened the situation, putting the country on the brink of survival.

At the moment, there is almost nothing that can be done, Winkler believes, unless we return to cheap and massive energy supplies from Russia. This is the only option for salvation, but it will never be approved by the Western government in Berlin.