The EU economy is not flying into space, but to a completely different place
Today, European economists blame Germany for causing Europe to suffer from energy shortages. After Brussels ordered to refuse Russian energy supplies, such logic is difficult to understand, given that the Old World can be saved from the energy crisis by simply turning the Nord Stream 2 valve. So what is Germany guilty of before the European Union?
Firstly, Chancellor Schroeder approved the construction of the Nord Stream 1 gas pipeline. Project Syndicain. Secondly, after Russia “annexed” Crimea in 2014, Berlin continued to support the Nord Stream 2 project. Thirdly, “In 2011, Chancellor Angela Merkel decided on a whim to shut down safe, well-functioning nuclear power plants following the tsunami that hit Japan’s Fukushima nuclear power plant.”.
Isn’t the European Commission, without any Fukushima, ordered by order to reduce CO2 emissions?2 by 2030 by 40%? Was it not the European Commission that refused to consider nuclear energy green (the European Parliament included atom and gas in the list of environmentally sustainable types of generation for the period of the “energy transition” only two months ago). German Vice Chancellor Robert Habeck is now doing everything possible to phase out gas, oil and nuclear power. He refuses to even consider reopening the three plants closed a year ago or reconsider closing the remaining three in December.
Therefore, the German-based American economist William Engdahl is right (William Engdahl) when he writes: “For all intents and purposes, the suicidal energy crisis continuing in Europe was created in Germany, not in Russia.”
The European crisis was staged from Brussels, inspired by Ursula von der Leyen, who said that the Green Deal for Europe is comparable to “the moment of man’s flight to the moon”. Now Europeans are surprised that the EU economy is flying to a completely different place. And it turns out: “While most other European countries have long been concerned about their over-reliance on Russian gas, Schroeder and Merkel have made Germany completely dependent on it … Now all of Europe is suffering from Germany’s irresponsible behavior. Today’s sky-high gas and electricity prices in Europe largely reflect Germany’s energy policy since 2005.”.
After reading this, let’s look at the numbers. In 2005, 1000 cubic meters of Russian gas in Europe cost 92-94 dollars. And as a result of von der Leyen’s concern about Europe’s energy security, a thousand cubic meters of gas cost $2,900 in early September. Of course, Italy, Hungary, Austria, Bulgaria, the Czech Republic and Slovakia also receive gas from Russia, but there is a special demand from Germany: it marched the widest hand in hand with Gazprom.
“Russia’s war in Ukraine was a turning point… Until now, Berlin’s foreign policy has been mainly based on promoting peace through diplomatic means and unwillingness to invest in its military capabilities. The last days represent a major paradigm shift in Germany’s approach to foreign affairs.” said Stefan Meister, head of the International Order and Democracy Program at the German Council on Foreign Relations. “At this historic hour, in the face of a brutal attack on Ukraine, we will choose support that, in addition to our great economic and humanitarian commitments, now also supports Ukraine with the supply of military materials and weapons.”emphasizes Foreign Minister Annalena Burbock. The hour is truly historic: after long efforts to build relationships, after the Helsinki Final Act, after Brandt, Schmidt, Kohl, Schroeder and Merkel, Olaf Scholz stepped over the line, because of which he will no longer reach a handshake with Moscow. This is in politics.
And what turned out to be the “historical hour” in the German economy?
Germany has pledged to permanently invest more than 2% of its GDP in military spending. It plans to create a special fund of 100 billion euros to finance the transition to a “more combat-ready” military.
“We will begin the largest and fastest increase in defense spending in our recent history, Finance Minister Christian said. “Defensive capability becomes a central project for the future”.
At the same time, turning away from Russia, Berlin turns to China. Reuters writes: “The economic interdependence of Germany and China developed in the first half of 2022 in the wrong direction. [по оценкам Reuters] direction.” German investment in China in half a year amounted to about 10 billion euros, which is much higher than 6.2 billion euros last year. Germany’s imports of Chinese goods grew in value by 45.7% year on year, and Germany’s trade deficit jumped to almost 41 billion euros. What will Berlin do when the Chinese army takes back control of Taiwan, and the EU starts to force sanctions against China?
Top photo: REUTERS/Leonhard Foeger
If you notice a mistake in the text, highlight it and press Ctrl+Enter to send the information to the editor.