Germany'sweconomicwmodelwshakenwbywenergywcrisis
Berlin,wGermanyw-wStagnantKzerY manKgrowthKinKtheKsecondKquarY terKhasKledKanalystsKacrossKthe boardKtoKpredictKaKrecessionKas theKoutlookKbecomesKcloudedKby theKthreatKofKaKhaltKtoKRussian gasKsuppliesa
uutKitKisKnotKonlyKgrowthKthat isKsputteringKatKzeroKpercentKbeY tweenKtprilKandKJuneK–KzerY manyRsKentireKeconomicKmodelKis beingKcalledKintoKquestionKbyKexY pertsa
MTheKwarKinKUkraineKputsKan endKtoKtheKzermanKeconomic businessKmodelKasKweKknewKitK– aKmodelKwhichKwasKmainlyKbased onKcheapKenergyKimportsKandKinY dustrialKexportsKintoKaKincreasY inglyKglobalisedKworldWMKsaid varstenKurzeskiWKeconomistKat INzKbankWKinKresponseKtoKthe secondYquarterKgrowthKdataa
LessKexpensiveKtoKproduce andKtransportWKwithKprices pinnedKdownKinKlongYtermKconY tractsWKRussianKgasKhasKfor decadesKcontributedKtoKzerY manyRsKeconomicKprosperitya
IndustryKconsumesKfcKper centKofKtheKgasKburntKinKzerY manyaKueforeKtheKwarWKmoreKthan halfKofKtheKtotalKsuppliesKcame fromKRussiaWKaKfigureKwhichKhad fallenKtoKfhKperKcentKbyKtheKbeY ginningKofKJunea
ToKweanKitselfKcompletelyKoff RussianKgasWKzermanyKisKlooking furtherKafieldKforKnewKsuppliesW includingKshipmentsKofKliquefied naturalKgasKfromKtheKUnited StatesKandKQatarWKasKwellKas movingKmoreKquicklyKtoKrenewY ableKelectricityKgenerationa
MtsKanKexportingKnationWKzerY manyKhasKbenefittedKdisproporY tionatelyKfromKfreeKtradeaKuutKitKis exactlyKthatKwhichKisKnowKinKdanY gerWMKsaidKtheKSueddeutsche dailyKearlierKthisKmontha
TheKcoronavirusKpandemic andKtheKUkraineKwarKhaveKshown theKweaknessesKofKopen economiesWKasKsupplyKchains haveKbeenKupendedKandKkey componentsKhaveKbecome scarceaKzermanyKhasKbeen amongKtheKmostKexposedKtoKthe logisticalKproblemsKofKtheKpast twoKyearsa
zermanyRsKdependenceKon vhinaKisKalsoKworryingKpoliticians inKuerlinaKTheKstrongKtwoYway tiesKbetweenKzermanyKand vhinaKwereKMnotKhealthyMWKliberal yinanceKMinisterKvhristianKLindY nerKsaidKinKtprila
ueijingKisKzermanyRsKnumberY oneKtradeKpartnerWKwithKtradeKbeY tweenKtheKtwoKnations expandingKagainKbyKdhadKperKcent inKeceda
MItRsKpotentiallyKaKnewKriskWM economistKvlaudiaKKemfertKtold tyPaKWhileKtheKriskKwasKless acuteKthanKdependenceKonKRusY siaWKmoreKneededKtoKbeKdoneKto MfocusKonKtheKdomesticKeconomy andKbuildKresilienceMWKsheKsaida
tfterKyearsKofKanaemic growthWKinflationKisKbackKwithKa vengeanceKinKtheKxuropean UnionaKInKzermanyWKtheKmemory ofKdlecsYstyleKhyperinflation weighsKheavyKonKtheKpublicKdeY batea
ueyondKthisKpsychological blockWKtheKobsessionKwithKprice stabilityKensuresKaKMcompetitive industryKandKaKnationKofKsaversMW accordingKtoKaKrecentKreportKby yrenchKthinkYtankKOyvxa
RisingKpricesKhaveKledKtoKinY creasingKlabourKunrestKinKzerY manyaKJulyKsawKtheKlongest industrialKactionKatKzerman portsKinKgcKyearsKandKaKdayKof strikesKbyKgroundKstaffKat Lufthansaa
theadKofKnegotiationsKthat areKsetKtoKkickKoffKinKSeptemberW theKpowerfulKIzKMetallKunionKis askingKforKanKeightYpercentKpay riseKforKfakmnKworkersKacross variousKindustrialKsectorsWKthe biggestKwageKdemandKsince eccka
OvershadowedKbyKtheKwarKin UkraineWKtheKlackKofKskilledKworkY ersKisKaKmajorKheadacheKforKzerY manKindustrya