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Europe is next: the economic crisis in Germany may become irreversible,
High energy prices and falling exports have left German households €2,500 poorer.
After five years of stagnation, the German economy has shrunk by 5% compared to pre-pandemic growth rates. Much of the deficit will be difficult to recover due to structural hits, particularly in the energy and auto industries.
Bloomberg writes that the decline in national competitiveness means that each household will become poorer by about 2,500 euros per year.
“Germany won't fall apart overnight. That's what makes this scenario so terrifying,” says Amy Webb, founder and executive director of the Future Today Institute. “This is a very slow, very protracted decline. Not of the company, not of the city, but of the whole…
