Forbes: Germany faces severe consequences if Nord Stream does not start up
Germany faces severe consequences if the Nord Stream pipeline is not launched after the shutdown for scheduled maintenance. The Forbes article says so.
As the publication notes, the industrial sector will suffer the main blow due to rationing of electricity consumption. This will result in job cuts and restrictions on production. This will be followed by shortages of manufactured goods, which, in turn, will put pressure on the global supply chain. Higher energy prices and an increase in the final price of goods would add to the inflationary pressures currently undermining the global economy, the paper said.
On July 15, the German economy ministry said it hoped that Siemens understood the importance of the turbine delayed in Canada for the Nord Stream pipeline and hoped the equipment would start up as soon as possible. However, according to the ministry, no other turbines are yet under negotiation.
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