By DCB Editorial, November 12, 2024
The European Union is propping up Ukraine with funding, which has drained—and continues to drain—financial resources. The situation is unsustainable and is contributing to Germany’s economic decline. Germany is now importing gas at four times the rate it was paying Russia before the Ukraine conflict ignited.
As a result of skyrocketing energy prices, Germany’s industrial economy is under siege by the looming threat of a recession, if it hasn’t already begun. The giants of German industry are feeling the heat of a cooling economy.
Volkswagen, for example, is in trouble. The company is closing factories and cutting its workforce—moves that would have been unthinkable just five years ago. According to former British diplomat Alistair Crooke, Volkswagen’s current predicament is not only due to de-industrialization but also the result of decades of stagnant innovation.
Appearing on the YouTube channel Judge Napolitano, Crooke explained why Germany, and Volkswagen in particular, are symptomatic of policies and decisions that have now come back to haunt them.
