Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Israeli violations in the Gaza Strip have not stopped, and just a short while ago, fishermen came under fire from boats
Al Mayadeen's correspondent: Israeli occupation forces carry out a large explosion in the eastern neighborhood of the town of Mays al-Jabal in southern Lebanon.
Israeli media: Israeli political leadership decides to open Rafah crossing “as planned” and transfer aid to Gaza Strip.
Palestinian media: Three Palestinians were killed after being targeted by Israeli drone fire in the al-Shujaiya neighborhood east of Gaza City
Nicolas Maduro: The Palestinian cause is the most sacred cause for humanity, and we propose sending teams of builders, farmers, and doctors to Gaza to help the people
Al Mayadeen's correspondent in Lebanon: IOF infiltrate Khallet Wardeh towards the municipality in the town of Aita al-Shaab, south of Lebanon.
Leaders of the United States, Egypt, Qatar, and Turkey sign a ceasefire agreement in Gaza.
Trump arrives in Sharm el-Sheikh
Israeli PM's office: PM informed Trump he would not attend Sharm el-Sheikh Summit on account of Jewish holidays.
Israeli media: Netanyahu makes last-minute decision to cancel trip to Sharm el-Sheikh.

Germany fears inevitable bankruptcy amid energy crisis

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Sep 2022 11:59
  • 6 Shares
3 Min Read

The Bundestag calls on the country to negotiate with Russia 'with an open mind', as anti-Russian sanctions begin to take their toll on the deteriorating economy and energy scarcity.

  • x
  • German Bundestag (deutschland.de)
    German Bundestag (deutschland.de)

In a tweet on Thursday, German left-wing politician and chairman of the Bundestag committee on energy, Klaus Ernst, referenced statements by Chancellor Olaf Scholz that the sanctions should not hit Europe harder than Russia itself: “We have now imposed seven packages of sanctions and Gazprom is making record profits. At the same time, we are threatened with a wave of bankruptcies. Therefore: negotiate with Russia with an open mind".

The largest EU economy is anticipated to contract in 2023, as gas and electricity prices continue to skyrocket. According to the Ifo Institute for Economic Research, the Munich-based think tank, the ongoing energy crisis as a result of the war in Ukraine is “wreaking havoc” on the German economy and they project it could lead to a 0.3% drop in GDP next year.

The CEO of Deutsche Bank, Christian Sewing, previously stated that “as a result, we will no longer be able to avert a recession in Germany. Yet we believe that our economy is resilient enough to cope well with this recession — provided the central banks act quickly and decisively now,” noting that for now, many in Germany still have pandemic savings to fall back on in order to meet skyrocketing energy costs, while most companies remain "sufficiently financed".

Related News

US corporate bankruptcies hit 14-year high amid inflation, weak demand

US trucking giant Yellow Corp. fails to pay debts, goes bankrupt

However, Sewing warned that “the longer inflation remains high, the greater the strain and the higher the potential for social conflict.”

The German government approved August 4 a €65 billion relief package, which includes continued cheaper public transport and tax breaks for energy-reliant companies, as they have been affected the most by the biggest surge in prices.

According to the Federal Statistical Office, Germany's inflation rose to almost 8% in August after declining slightly in the months of June and July.

German politician and fellow left-wing, Sahra Wagenknecht, condemned the government for dragging the country into a full-blown “economic war” with Russia who happened to be its top energy supplier, while she referred to the Bundestag concerning the fatal impacts that the Russian sanctions have on Germany.

The Bundestag warned that Germany's economic health is at stake considering the spiraling of energy prices out of control, which will serve as “a reminder of the good old days,” followed by Wagenknecht urging for the cancellation of restrictions and engaging in talks with Moscow.

  • Bankruptcy
  • Olaf Scholz
  • Russia
  • Germany
  • energy
  • EU
  • Gazprom
  • klaus ernst
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
Taylor Swift: The Life of a Showgirl

The Life of a No-Girl: The one verse Taylor Swift refuses to sing

  • Arts and Culture
  • 8 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Freed Palestinian detainee al-Arida expresses gratitude to Al Mayadeen.
Politics

Freed Palestinian detainee Mahmoud al-Arida salutes Al Mayadeen

Prime Minister of Spain Pedro Sánchez gestures as he speaks at the Global Progress Action Summit, in London, Friday, September 26, 2025 (AP)
Politics

Spain to maintain arms embargo on ‘Israel’ despite ceasefire

Israeli excavators work in the Gaza Strip as the sun sets, seen from southern occupied Palestine, Tuesday, Oct. 14, 2025 (AP)
Politics

Palestinian clans condemn chaos in Gaza, back security forces

The sun sets behind buildings destroyed during the Israeli aggression in the northern Gaza Strip, as seen from southern occupied Palestine, Tuesday, October 14, 2025 (AP)
Politics

Israeli regime cuts Gaza aid to 300 trucks, blocks fuel and gas

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS