{"id":1438017,"date":"2022-04-14T13:15:26","date_gmt":"2022-04-14T17:15:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1438017"},"modified":"2022-04-14T13:15:38","modified_gmt":"2022-04-14T17:15:38","slug":"energy-crisis-sharp-recession-looms-if-germany-cut-off-from-russian-gas","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/energy-crisis-sharp-recession-looms-if-germany-cut-off-from-russian-gas\/","title":{"rendered":"Energy Crisis: \u2018Sharp Recession\u2019 Looms if Germany Cut Off from Russian Gas"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fenergy-crisis-sharp-recession-looms-if-germany-cut-off-from-russian-gas%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1438017&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/GettyImages-1239742949-e1649931340630-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">A \u2018sharp recession\u2019 lies ahead for Germany should it be cut off from the Russian gas it is so badly addicted to.<\/p>\n<p>Germany\u2019s energy situation does not appear to be getting any better, with a recently released report suggesting that the country would fall into a \u201csharp recession\u201d should it suddenly lose access to Russian gas.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>While Europe as a whole appears keen to implement harsh embargos on Russian energy imports, Germany\u2019s chronic addiction to Russian gas has put a wrench in such works, with authorities in the country having expressed disbelief as to how the addiction issue was ever able to become so bad in the first place.<\/p>\n<p>Though politicians have been <a href=\"https:\/\/www.breitbart.com\/europe\/2022\/03\/30\/germany-suffering-in-the-most-brutal-way-over-russian-gas-addiction-minister\/\">sparring<\/a> with each other regarding who is to blame for the crisis, what is clear that the Russian gas habit has now put the German economy in mortal peril, with a <a href=\"https:\/\/www.ifw-kiel.de\/publications\/media-information\/2022\/joint-economic-forecast-12022-from-pandemic-to-energy-crisis-economy-and-politics-under-permanent-stress\/\">report<\/a> published on Wednesday predicting a serious recession should Russian gas disappear overnight.<\/p>\n<p>\u201cIf gas supplies were to be cut off, the German economy would undergo a sharp recession,\u201d said Stefan Kooths, vice-president of the\u00a0Kiel Institute for the World Economy which is responsible for penning the study.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>The report claims that such a cut-off would result in \u20ac220 billion of German economic activity being put at risk over two years, though Kooths warned that knee-jerk policy reactions to this danger could cause issues elsewhere.<\/p>\n<p>\u201cPolicymakers should be careful not to provide poorly targeted transfers to cushion high energy prices,\u201d the economy expert said. \u201cIf such support schemes are handed out on a wide front, it will further drive up inflation and undermine the important signaling effect of higher energy prices.\u201d<\/p>\n<p>\u201cThis in turn exacerbates the problems of low-income households and increases overall economic costs,\u201d he went on to say.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Farage: EU \u2018Funding Putin\u2019s War Machine\u2019, as Bloc Admits Spending \u20ac35bn on Russian Gas Since Invasion<a href=\"https:\/\/t.co\/CQqKW2oyE7\">https:\/\/t.co\/CQqKW2oyE7<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1512022381220581377?ref_src=twsrc%5Etfw\">April 7, 2022<\/a><\/p>\n<\/blockquote>\n<p>As the Ukraine crisis rages on, many within the European Union have expressed a desire to target Russian energy imports with sanctions and bans in the hopes of curbing Moscow\u2019s war machine.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>Elected EU representatives last week <a href=\"https:\/\/www.europarl.europa.eu\/news\/en\/press-room\/20220401IPR26524\/meps-demand-full-embargo-on-russian-imports-of-oil-coal-nuclear-fuel-and-gas\">demanded<\/a> an \u201cimmediate\u201d embargo be implemented against Russian coal, oil, nuclear energy and gas.<\/p>\n<p>Despite a resolution calling for such a ban being passed in Europe\u2019s parliament, no such measure has materialised, with only a <a href=\"https:\/\/www.euronews.com\/my-europe\/2022\/04\/08\/coal-trucks-vodka-and-putin-s-daughters-here-s-what-s-in-the-latest-round-of-eu-sanctions\">limited future ban<\/a> on Russian coal being pencilled in by the political bloc.<\/p>\n<p>For gas in particular, this failure is most likely due to an extreme Europe-wide <a href=\"https:\/\/www.euronews.com\/my-europe\/2022\/04\/12\/after-coal-the-eu-faces-an-uphill-battle-to-ban-russian-oil-and-gas\">overreliance<\/a> on Russian gas, with Germany, in particular, being <a href=\"https:\/\/www.breitbart.com\/europe\/2022\/03\/30\/germany-suffering-in-the-most-brutal-way-over-russian-gas-addiction-minister\/\">heavily dependent<\/a> on receiving such energy supplies from Vladimir Putin\u2019s Russia.<\/p>\n<p>This has long been thought of as a potential security risk for both Europe and NATO, with Former US President Donald Trump slamming the Federal Republic for doing nothing to ween itself off the supply during his time in office.<\/p>\n<p>However, like many of the President\u2019s warnings, his calls fell on deaf ears, leaving Germany to <a href=\"https:\/\/www.breitbart.com\/news\/russian-gas-stop-promises-sharp-recession-for-germany\/\">scramble<\/a> towards alternative energy sources \u2014 such as expensive Liquified Natural Gas and Renewables \u2014 in the hopes of staying afloat now.<\/p>\n<p>In the meantime, Russia has <a href=\"https:\/\/www.breitbart.com\/europe\/2022\/03\/24\/putin-attacks-petrodollar-system-demands-unfriendly-european-nations-purchase-gas-in-rubles\/\">repeatedly threatened<\/a> to cut the west off from its energy exports itself should they not commit to paying for their fixes in Russian rubles, a demand that Germany and its allies have firmly denied.<\/p>\n<p>Thankfully for the current German government, it looks like such a threat has not come to much so far, with the current Austrian Chancellor, Karl Nehammer, even <a href=\"https:\/\/www.reuters.com\/business\/energy\/austrian-leader-says-putin-told-him-gas-payments-euros-can-continue-2022-04-14\/\">claiming<\/a> that Putin has confirmed that Austria\u2019s payments for Russian gas in euros can continue for now.<\/p>\n<p>It is unclear whether this courtesy will be extended to other European nations in light of the previous threats.<\/p>\n<h5 class=\"western\"><em><span>Follow Peter Caddle on Twitter:<\/span><\/em> <em><a href=\"https:\/\/twitter.com\/peter_caddle\"><span>@Peter_Caddle<\/span><\/a><\/em><\/h5>\n<h5 class=\"western\"><em><span>Follow Breitbart London on Facebook:<\/span><\/em> <em><a href=\"https:\/\/www.facebook.com\/BreitbartLondon\/\"><span>Breitbart London<\/span><\/a><\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>A \u2018sharp recession\u2019 lies ahead for Germany should it be cut off from the Russian gas it is so badly addicted to. Germany\u2019s energy situation does not appear to be<\/p>\n","protected":false},"author":297,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1438017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1438017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/297"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1438017"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1438017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1438017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1438017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1438017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}