According to the Brussels paper, German industry is moving towards the abyss, and companies have two choices: to go bankrupt or relocate themselves - observes the Mandiner .
Politico's article paints a dark picture of the state of German industry . According to the article, although the German industry will still get through this winter, thanks to the fact that it filled up its gas reservoirs in the last eight months, the article warns that a "dark future" awaits German companies due to high energy prices and the depletion of reservoirs . Smaller ones that cannot cope with energy prices may go out of business, while larger, wealthier companies may decide to relocate to other countries.
Since, according to the article, cheaper energy cannot be expected to alleviate the situation, the nightmare that German heavy industry will become empty may come true in 2023".
They remind us: this heavy industry is inextricably linked to thousands of suppliers from neighboring EU countries, such as the Czech Republic and Slovakia. For them, and for the rest of the EU economy, the industrial decline taking place in Europe's largest economy could have catastrophic consequences.
Source: Mandarin
Cover image: Illustration / MTI Photo: Sándor Ujvári
