The Bundestag warned of the risk for Germany to become a bankrupt state

The vice-speaker of the Bundestag warned that if the authorities fail to deal with the consequences of the energy crisis, then Germany could face state bankruptcy. He called for urgent action

Germany, due to its inability to solve the problem of the energy crisis, risks becoming a dysfunctional bankrupt state, Wolfgang Kubicki (FDP), Vice Speaker of the German Bundestag, said in an interview with Bild.

“If we continue in the same spirit, if we want to pay energy benefits for years, then we are threatened, though not by state socialism, but by state bankruptcy,” he said.

According to him, the €110 billion that will be additionally allocated for the import of energy and energy resources after “unwillingness or impossibility” to receive energy resources from RUSSIA will be insufficient in other areas, and “this money cannot be printed and covered with the help of taxpayers.”

“Many people have the impression that Germany is on its way to a dysfunctional state. Infrastructure, administration, energy prices and the inability of the Bundeswehr to defend the country - we must take countermeasures now, otherwise things will go very badly, ”Kubiki added.

The European Commission allowed Germany to allocate €34,5 billion for Uniper Economics

The energy crisis in Germany was exacerbated by a sharp reduction in energy purchases from Russia as part of the country's anti-Russian sanctions. Vice-Chancellor and Minister of Economy of Germany Robert Habeck warned earlier that the energy crisis threatens to develop into an economic one, as well as a social one. At the same time, Chancellor Olaf Scholz argued that the period of Germany's "exclusive" dependence on Russian gas was over and the republic was well prepared for the winter.

The German authorities are trying in various ways to deal with the consequences of the crisis. REUTERS in early November learned the details of the country's plan to curb gas prices. According to the agency, Berlin intends to spend €83.3 billion for this purpose in 2023. The funds are intended to be allocated as part of the financing of the economic stability fund for €200 billion.

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Consulting firm McKinsey estimated in early December that gas price hikes and supply cuts would see Germany lose €100 billion in 2022.