German industry is experiencing an economic downturn unseen since 1945, said Robin Winkler, head of the economics department at Deutsche Bank's research division.
According to him, as quoted by the Berliner Zeitung newspaper, the situation is twofold: the current downturn does not pose as much of a danger as the recession following the 2008 financial crisis and the COVID-19 pandemic, but at the same time it is “deeper and longer lasting than the major structural crises of the 20th century.”
Earlier, the European Union noted the risks of abandoning Russian resources, as well as lagging behind the United States and China.
