By Andrea Thomas
BERLIN (Dow Jones) — Federal Minister of Economics Robert Habeck (Greens) has called on the population to save gas in order to prevent a gas shortage in winter and the associated gas cuts. Habeck also stressed that the Russian President Wladimir Putin wants to weaken Germany and Europe economically with his policy of high energy prices. But the federal government has “successfully” defended itself against these attempts at destabilization.
“I am firmly convinced that Putin will fail with this attempt (…), just as he is about to fail on the battlefield in Ukraine,” said Habeck at a press conference on the federal government’s new economic forecast.
Overall, the German economy would be hit by the consequences of the war, as the poorer forecasts showed. But the projections could have been even worse.
Don’t just blame industry for savings
With a view to the gas storage levels, which will probably reach their target level of 95 percent this week, Habeck said that this is an important step to avoid a gas shortage. “Of course, relative security has been created, but the danger is far from over,” said Habeck. It is therefore important to save gas. Private households in particular have to save, since the savings cannot be blamed on industry.
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(END) Dow Jones Newswires
October 12, 2022 09:31 ET (13:31 GMT)