Monday, August 1, 2022

Three months to avert disaster

Lights are going out in offices and public buildings in Germany. Photographer: Ben Kilb/Bloomberg Germany's government was slow to react whe
Lights are going out in offices and public buildings in Germany. Photographer: Ben Kilb/Bloomberg

Germany's government was slow to react when Russia squeezed gas supplies. Now cities are cutting back on lighting and hot water in a bid to avert disaster.

It might still be the height of summer, but Germany has little time to lose to avert an energy shortage this winter that would be unprecedented for a developed nation. Much of Europe is feeling the strain from Russia's reduction of natural gas deliveries. Yet no other country is as exposed as the region's biggest economy.

Rationing and recession are looming for Germany, and authorities have voiced concern about social unrest if the energy shortage spins out of control. 

Read The Big Take.

From today's story

"Our economic system is in danger of collapsing."
—Michael Kretschmer
Saxony state premier and member of the opposition conservatives

ICYMI

Read more from The Big Take

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