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How Ukraine shattered Europe's balance of power
(www.newstatesman.com)
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this post was submitted on 30 Jun 2024
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How so? I think it's quite an accurate summary. The German economy has been stagnating for a while, mainly due to its poorly handled transition towards an economy based on renewable energy. Their reliance on cheap Russian gas was shattered by the onset of the war in Ukraine, and their economic and political influence within the EU has been in steep decline ever since.
Germany also has an economy that is most threatened by China's increasing manufacturing prowess, both within the EU and outside of it.
It is also becoming apparent that Merkel's leadership was in just being able to maintain the status quo, something that Germany can't do now.
Germanies GDP went up every year since at least 2010, except 2020.
Yes, before the war Germany also relied on russian gas and renewables, but also nuclear (mostly russian uranium) and its own coal.
Germany acted fast though and it's transition to 100% renewables is on track even despite the war.