The European Commission called Germany the most affected country by the crisis

The European Commissioner for Economy, former Italian Prime Minister Paolo Gentiloni, believes that Germany has become one of the countries most affected by the current economic crisis. 

At the same time, in his opinion, the situation is now much better than expected in the fall of 2022. The politician even replaced the term «deep recession» with «a small reduction.»

Gentiloni also noted that the peak of inflation has passed, and the internal and external barometers of business sentiment in Germany are in good condition. Six months ago, the German government was discussing blackouts, deep recession and stagflation. And now experts expect that the period of reduction will be much shorter, and then a phase of restrained growth will come.

A few days ago, German Chancellor Olaf Scholz said that Germany has fully adapted to the lack of cooperation with Russia. Recall that the economic situation in Europe has worsened against the background of the rupture of relations with the Russian Federation due to the introduction of troops into Ukraine in February 2022. This has led to an increase in energy prices and other problems.