Medvedev: Germany and its economy… Only the devil knows what happened to it
The former Russian president, and current Deputy Chairman of the Russian Security Council Dmitry Medvedev spoke about the reasons that led to the deterioration of the German economy in recent years, and its loss of competitive advantages.
Medvedev, in an interview with RT, pointed out that Germany had turned from a thriving economy into “the devil only knows what happened to it” because of its refusal to cooperate with Russia, referring to Berlin’s refusal to buy cheap Russian gas.
According to him, the decline of the German economy comes in contrast to the United States, whose economy continues to develop while European countries suffer from recession.
Regarding the reason for the decline in the economy of Germany and other European countries, he said that it’s due to the refusal to cooperate with Russia and purchase energy resources, raw materials and other goods from Russia.
The German industrial sector in particular and the European sector in general began to lose its competitive advantages in light of the abandonment of relatively cheap Russian energy sources.
Earlier, French President Emmanuel Macron called for action to increase the European Union’s competitiveness against the United States and China, otherwise the European economy would face the risk of death.
The Former European Central Bank President Mario Draghi also said the EU needs €800 billion ($890 billion) in annual investment, about 4.5% of the bloc’s GDP, to keep up with the US and China.
