Germany faces recession as energy crisis bites: think-tank
- 12-Sep-2022
FRANKFURT: Germany will fall into recession next year, a leading think-tank warned Monday, with Europe’s biggest economy facing soaring inflation as Russia slashes energy supplies. The Ifo institute expects the German economy to shrink 0.3 percent in 2023 — slashing its forecast by four percentage points from a previous prediction in June. Inflation is expected […]
Germany opens door to extend nuclear as Russia squeezes gas supply
- 04-Aug-2022
German Chancellor Olaf Scholz on Wednesday raised the possibility of keeping nuclear plants going as he accused Russia of blocking the delivery of a key turbine to throttle gas supplies to Europe. The continent’s biggest economy has been scrambling for energy sources to fill a gap left by a reduction in gas supplies from Moscow. […]