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The federal government wants to free itself from the Russian gas dependency with high pressure. A new study predicts the worst economic crisis since the Second World War for this case, other experts do not see it as dramatically.
Germany and its dependence on Russian gas – hardly any other topic has dominated the debate so much since the beginning of the war in Ukraine. While many people are calling for a quick exit from gas supplies in order to stop supporting Russia financially, German industry is slowing down. And a study by Mannheim economics professor Tom Krebs, published on Monday, also urges caution. This predicts a massive economic downturn and the most massive economic crisis since the Second World War if imports are stopped quickly. Energy expert Georg Zachmann disagrees. Zachmann advises the federal government and analyzes the energy markets for the Brussels think tank Bruegel. In the 271st episode of “Today Important,” the expert says that Germany is very well able to turn off the gas supply to Russia. On the one hand for moral reasons: “In a situation like this, Germany has to get through the next winter without Russian gas.” On the other hand, Europe is currently not getting “60 percent of its natural gas from Russia anyway.”
“Germany must survive next winter without Russian gas”
The decisive factor for this are the increased imports of liquid gas, so-called LNG (Liquefied Natural Gas), explains Zachmann in an interview. According to the energy expert, a lot has happened, especially compared to last year: the ratio of the amount of imported Russian gas to LNG reversed last year. While in 2021 twice as much gas came from Russia as from all LNG sources combined, Germany is importing twice as much LNG as Russian gas this year. Although the former advisor to the federal government confirms that Germany does not yet have its own LNG infrastructure, Germany is included “in the European gas network”. Therefore, the country would benefit from its neighbors’ LNG imports and infrastructure. However, the Federal Republic is not independent with this form of energy either, according to Zachmann: “It will depend massively on how well we work together with our neighboring countries if we have to replace Russian gas.”
© TVNOW / Andreas Friese
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Sure, opinionated, on the 12: “today important” is not just a news podcast. We set topics and initiate debates – with attitude and sometimes uncomfortable. Host Michel Abdollahi and his team speak out for this star– and RTL reporters with the most exciting people from politics, society and entertainment. They let all voices have their say, both the quiet and the loud. Anyone who hears “important today” starts the day well-informed and can have a well-founded say.
Weird ideas for saving energy
Due to the possible gas boycott, energy prices continue to rise. The proposals to cushion the high prices are becoming more and more bizarre. The chairwoman of the association of independent self-employed travel agencies, Marija Linnhoff, made a suggestion of a somewhat special kind in the Mallorca Zeitung. Her idea: In order to save energy, pensioners should simply spend the winter in warmer countries. In order for the retirees to be able to afford this, the state should contribute a long-term holiday allowance of 500 euros. Possible travel destinations: Turkey, Tunisia or Mallorca. Politicians reacted rather cautiously. The North Rhine-Westphalian Economics Minister Andreas Pinkwart (FDP) was concerned that too many short-term emigrants could reduce purchasing power. And Jana Schimke, CDU politician and chairwoman of the tourism committee in the Bundestag, criticized in the “Bild” newspaper: The proposal was too expensive for the state and the pensioners, who still had to pay rent at home.
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Source: Stern
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
