Germany’s mainstream parties are stuck in an old ideology
During a press conference in March, German Chancellor Olaf Scholz promised that the green transition will lead to growth rates last seen during the economic miracle of the 1950s. During that decade, the West German economy grew by 8% per annum, outperforming all of Europe and most of the world. As we now know, at the time of Scholz’s speech the economy was already in recession, and based on current forecasts Germany could well be the only G7 nation with a contracting economy this year.
