"The energy shock caused by Russia’s invasion of Ukraine has led to the biggest collapse in German living standards since the second world war and a downturn in economic output comparable to the 2008 financial crisis, a stark assessment has found.
In a joint paper designed to underline the depth of the economic crisis in Europe’s erstwhile powerhouse, two former economic advisers to the German government have said that real wages in the country slumped further in 2022 than in any year since 1950.
A failure to protect German industry from the energy price spike may turn the 2020s into “a lost decade for Germany” and further fuel the rise of the populist far-right Alternative für Deutschland (AfD), the authors warned in a working paper published by the Forum for a New Economy."
Sanctions tightening....... for the good old USA..........keeping Russia out, Germany down and the US in......
German living standards plummeted after Russia invaded Ukraine, say economists | Germany | The Guardian
