Germany is facing a “Lehman Brothers” collapse in its energy market that could spark a domino effect leading to a severe recession should the gas-addicted economic powerhouse of the European Union be fully cut off from Russian energy supplies.
Economy Minister and Vice-Chancellor Robert Habeck said on Friday that Europe’s largest economy could be forced to shut down certain industries should gas supplies run think by the winter.
“Companies would have to stop production, lay off their workers, supply chains would collapse, people would go into debt to pay their heating bills, that people would become poorer,” he said according to DW.
The Green Party politician warned that there could be “a kind of Lehman-Brothers effect in the energy market,” spreading through municipal utilities, industrial and commercial companies, “And then you have a domino effect that would lead to a severe recession.”
Habeck was referring to the now defunct financial services firm Lehman Brothers, whose bankruptcy marked a pivotal moment in the Global Financial Crisis of 2008. The impact of Lehman’s collapse was particularly widespread due to the interconnectedness of its balance sheets with other banks, insurance companies, hedge funds, and other financial institutions. Many believe that the U.S. government made a critical mistake in allowing Lehman to fail and that the failure worsened the crisis and subsequent economic calamity. Others, however, have said that not rescuing Lehman was necessary and actually improved the financial system and prevent a worse economic outcome.
at least it was cheap while it lasted >In 2000, the First Schröder cabinet, consisting of the SPD and Alliance '90/The Greens, officially announced its intention to phase out the use of nuclear energy. The power plants in Stade and in Obrigheim were turned off on 14 November 2003, and 11 May 2005, respectively. The plants' dismantling was scheduled to begin in 2007.[46]
>Since leaving public office, Schröder has worked for Russian state-owned energy companies, including Nord Stream AG, Rosneft, and Gazprom.[1][2]
Austin Reyes
Just stop the sanctions and pay the gas bill in rubles or gold. This is a fucking self-inlficted problem and I am fucking sick of them bitching over it.
Benjamin Ross
This. Their problems are of their own making and have very simple solutions, pay in rubles, drop the sanctions, and quit antagonizing russia. At this point i hope they collapse just so they can shut the fuck up about everything.
Jeremiah Cruz
>"1.5% of the world economy" >"Russian economy is the size of Texas / Italy / Spain" >"let's declare an all out economic war to it and do blitzkrieg" >"what could possibly go wrong?" ahahahahahaha
Dominic Roberts
I'm glad even the people who will get drafted into the war that this will lead to find this funny
Thomas Robinson
The jew screams out as it hits you in the face.
Tyler Mitchell
They aren't bitching about it they are preparing people for the "measures" they're going to have to take before 2030. Of course this was all intentional, nobody is this retarded.
Adam Flores
Die Grünen sind unser Unglück
Brandon Watson
a war with NATO means you get the draft, too, son
Wyatt Evans
Russia should cut them off even if they come to their senses. They need to feel pain. A Lot of it, to get off their cloud and deal with reality.
I was looking at eBay, and people selling to Germany now have to have their packaging ‘licensed’ to mail shit to them. Lol. You know that people who sell will just say ‘fuck you’. Who needs that hassle.
Oh well, they won’t be able to afford eBay soon enough. They fucking blew it.
William Watson
As the great philosopher Mehmet Scholl once said: Hang the Greens while there are still trees.
Blake Hughes
The US orchestrated this whole thing to peel the EU away from Russia. It keeps the US in the drivers seat.
Kayden Gomez
I hope it backfires spectacularly and Germans free themselves from vile zogmerican occupation and gayto
Austin Edwards
Doubt it America doesn't give a shit about the rest of the world That lip service we give about defending other NATO countries is a bluff, we really don't give a shit In fact, we might even be better off if you did nuke them
Aaron Garcia
It could last forever, its the same guy warning who created that situation. There is nothing wrong with importing cheap russian gas.
Why can't the Germans and the rest of the EU just lift the sanctions and pretend nothing ever happened?
Hunter Long
Oy vey, thats anti semitism
Xavier Ortiz
Stupid fucks should have listed to Trump instead of laugh at him.. Oh well
Ian Wood
good germans were mistake since Rome
Eli Ward
Guess you missed the part where Trump warned them 3 years ago of this EXACT scenario
Andrew Fisher
Maybe they should have just not listened to you mutts and just continued to import russian gas and not abandon an expensive Pipeline that was just finished and now rots on the seafloor. Fucking mutts.
Josiah Watson
yeah its our fault that your country is shit. you sound like a nigger
Chase Wood
reopen nuclear plants plain and simple >NOOOO MUH GREENERINOS WILL BE MAD starve then
Ryder Foster
Don't blame hans, they've been occupied by satanic forces since 1945. they are not a sovereign nation.
Robert Ross
Fuck europe
Tyler Cox
Serves them fucking right for overdosing on neoliberal globohomo capitalism so hard they decided to export their energy production to a country they decided to make their enemy. They should be happy they didn't export their food production there too.
Dominic Wood
>America doesn't give a shit about the rest of the world US sponsored the coup in Ukraine in 2014 to use in a proxy war against Russia now another US puppet in NATO decided to do a partial blockade of Russian territory which could eventually force Russia to interfere directly if US won't act, NATO will disband, Europe will finally get independence from US I don't think your masters will allow this to happen so easily if no war between NATO and Russia, that means Russian won't get the draft, too
Nathan Long
No worries, germans will always have money to pay welfare for new immigrants from Africa and Middle East who will come to Germany in large numbers in the coming months. And of course money to pay to Ukraine. Because, you know... Slava Ukraine, Putin's bad :)
Everything will be fine (for immigrants), some Germans just will have to commit suicide, and the lucky ones will have to work harder and pay more taxes.
Daniel Clark
>US sponsored the coup in Ukraine in 2014 Do you have any idea how much money our politicians made from that? >to use in a proxy war against Russia we love making other countries do our dirty work for us. don't lie, you do too >now another US puppet in NATO decided to do a partial blockade of Russian territory again, don't give a fuck if you nuke them. will probably be good for everyone. we just want to make you look bad at this point >NATO will disband yup >I don't think your masters will allow this to happen so easily that's the best part they don't have to do anything at all we hate Europe just as much as you guys do
