Spiegel: 71 percent of Germans expect their economic situation to worsen in next five years
The Germans are set for a long-term economic crisis, said the newspaper Der Spiegel with reference to the study conducted by the Civey Institute for Public Opinion Research.
The vast majority of respondents – 71 percent – expect the economic level of the country will continue to decline over the next five years, only 11 percent believe the situation will improve over time. Remarkably, even last autumn people in Germany assessed the situation as predominantly good.
In addition, 36 percent of those surveyed said that their personal situation, including purchasing power, had deteriorated as a result of significant rises in energy and food prices.
Overall, 58 percent of those surveyed rated the current economic situation as the worst since monitoring began in May 2017.
Deutsche Wirtschafts Nachrichten had earlier written that the current energy crisis had caused a “crushing verdict” for the future of the German economy
Following the start of the Russian military special operation to demilitarise and denationalise Ukraine, the West increased sanctions pressure on Moscow. Some countries have announced a freeze on Russian assets, many brands have left Russia, and calls to give up Russian energy resources have grown louder in Europe. But all this has already caused problems for the West itself, provoking a surge in inflation and rising food and petrol prices.
In addition, Europe is experiencing gas shortages ahead of the new heating season. With the Nord Stream pipeline shut down for maintenance, some countries have raised fears that it will not resume flow at all.
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