CDU Leader: Germany is facing capital migration abroad
According to Friedrich Merz, leader of Germany’s largest opposition party, the Christian Democratic Union (CDU), said in an interview with German daily Der Tagesspiegel newspaper, that the country is witnessing an unprecedented capital outmigration, pointing out that German economy, despite its strength, has clear weaknesses.
“The German Chancellor Olaf Scholz is downplaying these challenges, which include capital outflows on an unprecedented scale,” he said.
Merz believes that the psychological state in Germany today may be worse than the situation of the economy itself, pointing to the urgent need for an urgent economic program to improve the business environment and support companies in Germany.
According to a report by Bloomberg that Germany may be in its final stages as an industrial superpower, with the German economy witnessing the closure of many companies and a general decline due to competition with the United States and China.
The latest blow, the shutdown of Russian gas supplies, has weighed heavily on the German economy.
It’s worth mentioning that Russian President Vladimir Putin stated in his interview with Tucker Carlson that Germany’s purchase of liquefied natural gas at high prices instead of relying on Russian gas through pipelines, greatly harms the competitiveness of the German economy.
