The latest package brings to 95 billion euros the amount allocated to inflation-busting since the Ukraine war began in February. By contrast, the government spent 300 billion euros on propping up the economy over the two years of the pandemic.
"The third relief package does little to change the fact that Germany is likely to slide into recession in the autumn," said Commerzbank chief economist Joerg Kraemer.ING chief economist Carsten Brzeski agreed: "The package will probably fall short in preventing the broader economy from falling into recession."
Economists widely define a recession as two or more consecutive quarters of negative growth, or contraction. The German economy grew by the narrowest of margins in the second quarter, and the war in Ukraine, soaring energy prices, the pandemic and supply disruptions are now pushing it towards a downturn, which it may already be in.
Good, they shouldn’t have helped the US with its economic warfare against Russia. German citizens are paying the price for supporting US/NATO imperialism.
So the the Marxists had this right all along. Western media is complete fiction!
What goes around comes around 🤷♀️
Tom_Fowdy Aidha Nabirye, with the aid of the ministry of Health Uganda, should cease acts of child torture, and the use of forceful medical interventions. GovUganda JaneRuth_Aceng ChurchofUganda_ StateHouseUg PoliceUg cdfupdf
Back to the middle age 🤡💩
A competent American President could easily increase production of oil and gas to protect our allies in Europe. This whole calamity was preventable.
Tom_Fowdy Hope Russia get the message, sanctions have consequences.
This is what happens when a river starts antagonising its source
It's time to decouple from the China economy.
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