Situation in Ukraine threatening German welfare: Finance Minister
Germans are already showing their displeasure with the situation, with some calling on Olaf Scholz to step down.
Germany's Finance Minister warned today that the war in Ukraine will leave an impact on the people of Germany, as it will lead to a lower standard of living.
Finance Minister Christian Lindner said the events in Ukraine "will make us all poorer," citing the example of the rise in energy prices for this decline in spending power. He further warned that even the government "will not be able to stop this decline in prosperity. But you can mitigate the worst shocks, that's what we do."
Lindner said the government is intending to support people and businesses that are most at risk and added that the measures can only be temporary due to limited funds.
As for Germany's economic development amid this crisis, the Finance Minister expressed concern, predicting a slowdown in economic growth. Some are already showing their displeasure with the situation, with some calling on Olaf Scholz, who just recently became Chancellor, to step down.
German Chancellor Scholz was scouted in Essen, Germany— Spriter (@spriter99880) April 2, 2022
During Olaf Scholz's speech, people shouted at him: "Get lost!", "Liars!" and "Scholz must go!" pic.twitter.com/GfFauvkNMW
Gas prices skyrocketed in the European market. Due to fear of a ban on Russian energy resources, gas prices exceeded $3600 per 1,000 cubic meters on March 7.
Germany's defense chief said yesterday that there are no signs that Russia is planning an attack against a NATO member state, and this means the alliance now has time to shore up its capabilities on Europe's eastern flank.
The buildup's scope will span from the Baltic to the Black Sea and will last until the end of May.