Germany’s committal to renewables is contributing to its economic crisis
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Germany’s committal to renewables is contributing to its economic crisis
Loveworld / 3 months
February 27, 2024
1 min read
Germany’s economy minister Robert Habeck recently stated that the economic outlook for his country is “dramatically bad.” Since Germany has been faithfully trying to implement the so-called green transition, it is urgently necessary for Berlin to rethink its current path, both in terms of energy and in terms of the economy.
This is because Germany is in recession, and warning bells are being sounded internally that a key reason is that green energy policies are creating energy supply uncertainty and price volatility.
The driver of the German economy has long been its manufacturing most visually represented by its luxury car brands which are exported all over the world.
However, employment in this sector of the economy has remained static since the 1950s whilst the services sector has grown to encompass three-quarters of German employment.
German industry is now not just stagnant, it is in decline. Can Germany’s industrial decline be a good thing? Some people in the green camp would think so. Take Canada’s Christia Freeland.
