Germany is the world’s worst-performing major developed economy, as it struggles to deal with the energy crisis.
ESSEN, Germany — For most of this century, Germany racked up one economic success after another, dominating global markets for high-end products like luxury cars and industrial machinery, selling so much to the rest of the world that half the economy ran on exports.
The sudden underperformance by Europe’s largest economy has set off a wave of criticism, handwringing and debate about the way forward. After Russia cut off most of its gas to the European Union, spurring an energy crisis in the 27-nation bloc that had sourced 40% of the fuel from Moscow, the German government asked Evonik to keep its 1960s coal-fired power plant running a few months longer.
Kullmann is for it: “It was mistaken political decisions that primarily developed and influenced these high energy costs. And it can’t now be that German industry, German workers should be stuck with the bill.” Other dawning realizations: The money that the government readily had on hand came in part because of delays in investing in roads, the rail network and high-speed internet in rural areas. A 2011 decision to shut down Germany’s remaining nuclear power plants has been questioned amid worries about electricity prices and shortages. Companies face a severe shortage of skilled labor, with job openings hitting a record of just under 2 million.
Massive clean energy subsidies that the Biden administration is offering to companies investing in the U.S. have evoked envy and alarm that Germany is being left behind. Specialty glass company Schott AG , which makes products ranging from stovetops to vaccine bottles to the 39-meter mirror for the Extremely Large Telescope astronomical observatory in Chile, has experimented with substituting emissions-free hydrogen for gas at the plant where it produces glass in tanks as hot as 1,700 degrees Celsius.
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Dozens are injured at an Eritrean event in Germany, including 26 police officersGerman police say dozens of people including at least 26 officers were injured during unrest at an Eritrean cultural festival in the southwestern city of Stuttgart
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