Posted: 29.09.2022 13:36:00

Expert explains why Germany could lose its economic miracle

Hard work of German people and cheap energy lie at the heart of the German economic miracle. Since Germany has lost the latter, now the country may face serious consequences – as stated by Waldemar Herdt, a German businessman and member of the Bundestag from the Alternative for Germany party (2017-2021), during his talk with STV TV channel.

Photo: STV video screenshot

The expert noted, “The German economic miracle, which the whole world watched after the war, was based on two pillars. The first was the industriousness of the German people, the second – cheap energy. Germany bought gas for 190 Euros, then for 290 Euros per 1,000 cubic metres and sold it to its people for 450 Euros per 1,000 cubic meters, and the economy grew on this.”

According to Mr. Herdt, the upcoming economic crisis is connected not only with energy prices, but also with the actions of the country’s leadership.

“[German Chancellor Olaf] Scholz and his team have discredited themselves in this year of governance so that there is nowhere else to go. The Foreign Minister says he doesn’t care about voters, and he will do whatever he wants. The Minister of Economy does not know what bankruptcy is, saying that what awaits us is not bankruptcy, just businesses will stop working. My son, who is going to the tenth grade, was shocked at such intelligence,” the German businessman said.