Germany’s economic model wobbles amid energy crisis

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Germany’s second-quarter growth figures to be published on Friday are expected to be meek as the outlook for Europe’s largest economy is clouded by the fallout from Russia’s war in Ukraine.

A recession in the months to come has a growing sense of inevitability about it, observers say. And it is not just growth that is sputtering — Germany’s entire economic model is being called into question by experts.

“The war in Ukraine puts an end to the German economic business model as we knew it — a model which was mainly based on cheap energy imports and industrial exports into a increasingly globalised world,” say analysts from ING bank.—AFP

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