High energy prices could cost Germany its status as an industrial power. This was stated by Gunnar Gröbler, chairman of Salzgitter AG, one of the largest steel manufacturing companies in Europe. Finance Times.
Gröbler said that if the expectation of high electricity and gas tariffs continues, many companies that produce important industrial materials such as steel or chemicals may leave Germany. “This will deal a serious blow to all production chains and threaten the country’s industrial leadership,” he stressed.
The fears of the head of Salzgitter AG are confirmed by research data. Therefore, according to a study by the German Chamber of Commerce and Industry, one in every two companies evaluates the impact of the energy transition as negative. At the same time, the share of businesses planning to invest abroad rather than in Germany doubled to 32%.
Moreover, as the Prognos analysis shows, electricity prices in Germany will remain high until Russia’s natural gas supply is restored. DGB President Yasmin Fahimi also believes that Germany cannot cope with the recession without cheap energy.
Many experts share the opinion of the management of Salzgitter AG about the real threat of deindustrialization caused by the energy crisis. Failure to take decisive action could cost Germany its status as a leading industrial power.
Before that, the majority of Germans take into accountThat Scholz could not cope with the crisis in Germany.
Previously in Germany taken into account government emergency.
Source: Gazeta
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