That means cusp of recession, as in being on it.
Germany on cusp of recession, says ifo, after business sentiment falls – German business morale fell more than expected in July as high energy prices and impending gas shortages push Europe’s largest economy to the cusp of recession, a survey showed on Monday.
The Ifo institute said its business climax index was 88.6, its lowest level in more than two years. June had also seen an unexpected drop to a downwardly revised reading of 92.2.
Germany wants clean, reliable energy. But first, to survive winter…
Germany is largely dependent on Russian energy, with half its natural gas and a third of its oil coming from that country. There’s currently no other way to quickly secure Europe’s supply of energy for heating, transportation, and industry, says the German government. But they’re trying. Leaders have decided to build liquefied natural gas terminals, which opens up new energy supplies but also raises a bevy of questions about Germany’s energy security.
Nuclear energy has been phased out, and renewables such as wind aren’t yet ready to pick up the slack, so lawmakers have decided that LNG is the answer to Germany’s energy crisis. They’ve announced plans to build two domestic LNG terminals, which re-gasify the supercooled form of natural gas that arrives on ships. Leasing floating terminals and securing supply via terminals elsewhere in Europe is also in the works. Essentially, Germany is trying to buy whatever it can, from wherever it can.
That means crunch.
And crunch here it soon will.
Implications of a German Energy Crunch (with added Supply-Chain Problems).
On Monday, utility Uniper SE, Germany’s biggest buyer of Russian gas, said it had received a letter from Russia’s state-owned Gazprom PJSC that claims force majeure—a legal declaration that exempts the company from fulfilling contractual obligations due to circumstances outside its control—to justify past and current shortfalls in gas deliveries.
That means being embarrassed – for someone else.
And this particular embarrassment has less to do with a stupid song and its stupid song lyrics than it does with the fact that authorities feel the need to censor it.
Schlager louts? Row erupts over ‘sexist’ pop hit in Germany – Town festival authorities refuse to play chart-topping Layla by DJ Robin & Schürze, prompting complaints of censorship.
“People are being prescribed how they should talk, how to write, and now how to party. This prudish nannying of the politically correct bregade must stop. We are heading for an anti-fun society.”
And here you thought Germany was an anti-fun society already.
That means to shut down. Or shut off. Or turn off. Or put on warm clothing this winter.
Ukraine Latest: Russian Gas Shipments to Germany Due to Stop – Russian natural gas shipments to Europe via the Nord Stream pipeline to Germany are due to stop on Monday for planned annual maintenance, and Western allies fear President Vladimir Putin will use the opportunity to cut off flows for good.
Sure it can. Until that four-letter word comes around the corner: Cold.
Germans’ support for Russia sanctions remains steady — but can it last?
Russia is supplying less and less gas and prices are rising. What will happen to solidarity with Ukraine when life gets tougher in Germany?
As Russia cuts gas deliveries, Germany’s energy supply is under threat and prices are rising. Now coal power plants, which are particularly harmful to the climate, are making a comeback.
Can’t wait for the debate about nuclear power plants to begin.
But not for very much longer.
Germans may have to ration hot water if Russia cuts off gas supply – Germany and other European countries depend on Russian oil and natural gas.
Germany is hunkering down for the possibility of Russia cutting off natural gas supplies, and some cities are preparing for the scenario that hot water for private households will need to be rationed going into winter.
That means emergency plan. Another good one is Schutzschirm. That means protective shield.
But both euphemisms point to another one: Staatshilfe, meaning state support or government assistence. And all any of this means, of course, is taxpayer money. In this particular case, the government burning taxpayer money to fix a problem it created in the first place (see German dream world energy policy).
That means trade deficit.
Germany warns of ‘historic challenge’ as trade slides into deficit – Soaring energy prices and trading disruption push balance €1bn into the red for May.
Imports increased 2.7 per cent to €126.7bn from April to May while month-on-month exports fell 0.5 per cent to €125.8bn, according to data released on Monday by the federal statistical agency.
“In the past. Germany could always rely on strong exports to revive the economy and today’s numbers show the trade balance will not return as a positive element for growth for at least the next couple of years,”
Or maybe even a whole lot colder, this winter.
But don’t worry. We’ve got everything under control.
Regulator urges Germans to prepare for possible gas shortage – Fearing Russia might cut off natural gas supplies, the head of Germany’s regulatory agency for energy called on residents Saturday to save energy and to prepare for winter, when use increases.
“Families should start talking now about whether every room needs to be set at its usual temperature in the winter — or whether some rooms can be a little colder.”
Observing Hermann 