Bloomberg pointed to the approaching point of no return in the German economy

The German economy is stagnating and approaching the point of no return. This was reported on December 16 by Bloomberg agency with reference to analysts.

"Germany is approaching the point of no return. Business leaders know it, people in the country feel it, but politicians have not found answers," the agency noted.

Bloomberg writes that the German economy, which has been stagnating for five years, will be 5% smaller in 2024 than it could be if the previous growth trend continues.

According to the publication's analysts, Germany is going through an energy crisis and much of the deficit will be difficult to recover due to the loss of Russian energy and the declining competitiveness of Volkswagen AG and Mercedes-Benz Group AG.

The latter means each household loses about €2,500 a year, Bloomberg pointed out.

On the eve of the head of the German Council for Constitution and Sovereignty Ralph Niemeyer said that many Germans want to move to Russia because of economic stability in the country and adequate migration policy.

Shortly before that, German Vice Chancellor Robert Habeck said that the country's business model and its companies are "cornered" because of Germany's economic policy. The vice chancellor noted that Chinese cars are causing serious problems for the German automobile industry. In addition, Habeck admitted that the German economy is having a hard time because of the rejection of Russian gas.

In October, EP deputy Lebos Blaga said in an interview with Izvestia that sanctions against Russia mean a long-term prospect of economic suicide in Europe. He noted that restrictions against Russia do not harm it - they harm EU countries.

In September, it was reported that German industry is experiencing the most serious recession in the existence of the FRG. According to experts, the dynamics of industrial production in the country is historically unprecedented. At the same time, it was reported that German residents can no longer ignore the fact of a serious crisis, because of which there is tension in society.