Twenty years ago, Germany was called the sick man of Europe, owing to its high unemployment, weak domestic demand, and slow GDP growth. Today, the country seems to have caught another disease – this time, because of its misguided energy policy.
MUNICH – Say what you will about Russian President Vladimir Putin, but his war on Ukraine did open European eyes to some long-underrated truths. One is that even after more than 70 years of relative peace on the continent, neglecting military security poses grave dangers. Another is that the “green dream” of modern economies powered exclusively by renewable energies remains out of reach – and reliable access to cheap energy supplies remains essential.
MUNICH – Say what you will about Russian President Vladimir Putin, but his war on Ukraine did open European eyes to some long-underrated truths. One is that even after more than 70 years of relative peace on the continent, neglecting military security poses grave dangers. Another is that the “green dream” of modern economies powered exclusively by renewable energies remains out of reach – and reliable access to cheap energy supplies remains essential.