Germany Faces Energy Collapse By Richard Miller (London)
Germany is facing the real consequences of the Ukraine War, with gas restrictions from Russia. And, in the case of a full-on war, they can expect the supply to be cut off completely, meaning that in the bitter winters, people will freeze. But, the Economy Minister and Vice-Chancellor Robert Habeck, while accepting that this will lead to the potential collapse of the German economy does have some useful tips about what to do at bath time, which he thinks will help. Discussed, and satirised below.
“Germany is facing a “Lehman Brothers” collapse in its energy market that could spark a domino effect leading to a severe recession should the gas-addicted economic powerhouse of the European Union be fully cut off from Russian energy supplies.
Economy Minister and Vice-Chancellor Robert Habeck said on Friday that Europe’s largest economy could be forced to shut down certain industries should gas supplies run think by the winter.
“Companies would have to stop production, lay off their workers, supply chains would collapse, people would go into debt to pay their heating bills, that people would become poorer,” he said according to DW.
The Green Party politician warned that there could be “a kind of Lehman-Brothers effect in the energy market,” spreading through municipal utilities, industrial and commercial companies, “And then you have a domino effect that would lead to a severe recession.”
Habeck was referring to the now defunct financial services firm Lehman Brothers, whose bankruptcy marked a pivotal moment in the Global Financial Crisis of 2008. The impact of Lehman’s collapse was particularly widespread due to the interconnectedness of its balance sheets with other banks, insurance companies, hedge funds, and other financial institutions. Many believe that the U.S. government made a critical mistake in allowing Lehman to fail and that the failure worsened the crisis and subsequent economic calamity. Others, however, have said that not rescuing Lehman was necessary and actually improved the financial system and prevent a worse economic outcome.”
To deal with the energy crisis on a personnel level, the German Vice chancellor Robert Habeck has “drastically reduced” the time he spends in the shower, doing the job in under five minutes. Well, there are other things the energy woke can do, such as a cold shower, not using heat at all, especially on freezing days, or just having a cold wash in the basin with a wash flannel.
https://www.rt.com/news/557801-german-vice-chancellor-shower-time/
“German Vice Chancellor and Economy Minister Robert Habeck says he has had to once again “drastically reduce” the time he spends in the shower in an effort to cope with what he describes as an acute energy crisis.
Not heating apartments in winter would also greatly help Germany to overcome the difficulties allegedly caused by Russia, the minister told Der Spiegel magazine in an interview published on Friday.
When asked about his personal contribution to the nationwide effort to save as much gas as possible ahead of the “hard time” Germany faces in winter, Habeck said he was sticking to his own ministry’s recommendations. “I have once again drastically reduced my shower time,” he answered.
The minister apparently takes pride in his ability to have a “quick shower,” as he told Der Spiegel that he just “had to laugh” when his “Dutch colleague” told him about a planned campaign to encourage people to reduce the average shower time from 10 to five minutes. “I’ve never showered for five minutes in my life,” Habeck said, claiming he completes the task faster.
The minister also said he barely heats his apartment in winter since he “gets up at six and leaves by seven,” before returning “late.” Still, Habeck admitted he was a “bad example” because he enjoys a ministerial salary that “others only dream of.”
He said he is aware of people who “did not heat all the rooms in their apartments last winter.” Habeck warned that the worst is yet to come, since energy companies are “gradually” increasing prices for end consumers. “More people will be affected,” he said, adding that “we are already [in a situation] in which Germany has never been,” which he described as “a gas crisis.”
Describing the worst-case scenario, Habeck said “companies [will] have to cease their production, their workers [will] be laid off, supply chains will be collapsing; people are going to [go] into debt to pay their heating bills; people will be getting poorer and frustration will engulf the nation.”
Habeck has suggested some unconventional ways of overcoming energy shortages in the past. In April, he suggested working from home, avoiding driving, and taking up cycling to “annoy” Russian President Vladimir Putin, who he blames for the crisis.
Drawing the curtains while heating apartments in the evening and lowering the room temperature by one degree were also on the minister’s list of useful options. The two measures together would help save up to 5% of energy consumption, he said at the time.
On Friday, Habeck said he still believes Russia is gradually reducing gas-supply volumes to keep prices high and increase pressure on the German population “to stir up [the feeling] of insecurity and fear.”
Last week, gas flows through the undersea pipeline from Russia to Germany were cut by as much as 60%. Russian energy giant Gazprom said this was due to technical issues arising from Western sanctions against Moscow.
According to Gazprom, German equipment supplier Siemens Energy failed to return gas-pumping units to a compressor station on time. The repaired turbines for the Nord Stream pipeline are currently stuck at a maintenance facility in Canada due to Ottawa’s sanctions on Russia.
On Thursday, the Kremlin also hit back at the accusations leveled against Moscow by Germany and some other Western nations. Russia has earned a reputation as a reliable energy supplier which “strictly fulfills all its obligations,” Kremlin spokesman Dmitry Peskov said.”
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