Yahoo-Bloomberg/Alexander Kell/7-2-2022
“‘We aren’t dealing with erratic decisions but with economic warfare, completely rational and very clear,’ Habeck, the deputy chancellor in Olaf Scholz’s government, said Saturday on a panel. ‘After a 60% reduction, the next one logically follows.’ German leaders are stepping up warnings of impending turmoil and natural-gas shortages in Europe’s biggest economy, which relies on Russia for about one-third of its energy.”
USAGOLD note: The choices outlined in the article linked above are runaway energy prices for consumers, or corporate failure – and a cascading, ripple effect through the German economy.
