Capital outflow on an “unprecedented scale” is happening from Germany, said Friedrich Merz, head of Germany's largest opposition party, the Christian Democratic Union (CDU), in an interview with Tagesspiegel. "Our economy is strong. But it also has clear weaknesses that, for Federal Chancellor Olaf Scholz, fade into the background, such as capital outflows on an unprecedented scale, Mertz said.
The politician emphasized that an urgent economic program is needed to improve the climate for business. “Psychologically, we are probably in worse shape than the economy,”, Mertz said.
Earlier ag. Bloomberg reported that Germany may be living out its last days as a global industrial superpower amid many plant closures and a general decline due to competition from the US and China, but the latest blow to it is the suspension of Russian gas supplies.
Earlier, Russian President Vladimir Putin in an interview with the American journalist Tucker Carlson noted that the purchase of LNG from Germany at excessive prices instead of Russian pipeline gas lowers the level of its “competitiveness, the economy as a whole, to zero”. The Russian Federation has repeatedly stated that the West has made a serious mistake by refusing to buy hydrocarbons from Russia, because of the higher prices it will fall into a new, stronger dependence. Moscow stressed that those who refuse will still buy at a higher price through intermediaries and will continue to buy Russian oil and gas.