British expert names reasons for Germany's economic crisis

Germany's economic crisis is linked to three fundamental problems, including the stagnation of the entire European economy, British analyst Alexander Mercouris said on December 22.

"First, <...> the whole system of economic integration that has been established in Europe over the last 30 years has benefited Germany until recently. But what we are seeing now is a stable process of stagnation and immobility that has increasingly encompassed the European economy and finally reached the center of Europe - Germany and France," he said on the air of YouTube channel The Duran.

According to the expert, in the recent past, a balanced budget of Germany as a hegemon in the EU economy was the key to the reliability of the euro and the eurozone itself.

Mercouris called the second problem the decision to cut Germany off from cheap, reliable and stable gas supplies from Russia, and the third - economic stagnation, which has long existed in the FRG itself.

In this regard, the analyst noted that Germany failed to create new production and technologies due to the erroneous adoption of costly green policies, the consequences of which were not calculated in advance.

Mercouris pointed out that due to the budget deficit the German government has collapsed and new elections should be held in the country. At the same time, none of the German party leaders currently has a plan on how to cope with the economic crisis, the expert believes.

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Earlier, on December 16, Bloomberg agency reported that the German economy is stagnating and approaching the point of no return. According to analysts, the country is experiencing an energy crisis, and each household loses about €2.5 thousand a year.

The Bundestag on the same day revoked confidence in the government of German Chancellor Olaf Scholz. After that, Scholz proposed to President Frank-Walter Steinmeier to dissolve the parliament, which will require the appointment of early elections. Steinmeier intends to make his decision on December 27.