Siegfried Russwurm, the president of the Federation of German Industries (BDI), issued this warning in an interview with the German newspaper Die Welt. He denounced the economic policy of the liberal coalition government in Berlin comprised of politicians under the Social Democratic Party, Green Party and Free Democratic Party.
This coalition government, Russwurm said, has governed over a sharp decline in Germany's worldwide economic standing. It has also proceeded with the closure of nuclear power plants during a period when energy prices are staying high and other European nations have increased their nuclear energy production.
"Just look at the hard facts, the statistical data from the economists: Germany is now often at the bottom of the rankings in a global economic comparison. This must alarm us as an industrial and exporting country," said the president of the BDI, German industry's leading organization.
"It's about the framework, and this is set by politics and the state. A lot of things are no longer correct."
Russwurm focused on the Berlin-backed EU Green Deal that made the goal of achieving "climate neutrality" by 2050 legally effective. According to him, this poses a major problem for businesses operating not only in Germany, but across a broader Europe.
He compared the EU Green Deal, which supposedly seeks to make green energy cheaper, to the U.S. Inflation Reduction Act. But instead, the European Union decided to make fossil fuel more costly – creating "a huge difference in the effect on production costs and the global competitiveness of companies."
In order for Germany to meet its harmful green energy targets, Russwurm said the country needs to construct "at least 50" hydrogen-fueled gas power plants. He added, however, that "not one is under construction yet."
"Massive investments in grids are required for power distribution – all of this parallel to the expansion of wind and solar capacity many times over. It's high time to draw a line under it and communicate what our path to decarbonization will ultimately cost. I expect this transparency from politicians," Russwurm stated.
"We have to be honest about what CO2-free energy will cost in the long term – not just wind and solar power but including the necessary backup capacities when the sun and wind are not delivering."
The BDI president asserted that "innovation is our strongest tool and one that we have always mastered really well in Germany. But he warned that this is being prevented by high standards of bureaucracy, which is keeping foreign investment away.
He reiterated this in a separate interview with the Merkur news site. According to Russwurm, Germany's present economic recession has been "self-made" as the nation has "burdened itself with too many obstacles."
"The biggest problem is that we have gotten ourselves wrapped up in a knot of bureaucracy, regulation, and oversight that is overwhelming and making us far too slow," the BDI president said. "If we focus on innovation, and we have to, then it can't stay that way. Innovation always has something to do with progress, with speed. There is a massive lack of that."
He forewarned that Europe has become "way too bureaucratic" and that what has grown in recent years at all areas of government "is far too complicated and crippling" for industry. Endless bureaucracy in companies caused by exorbitant reporting requirements and authorities that evaluate the reports has resulted in a complete disproportion between effort and added value.
Russwurm maintained that "there is no knowledge deficit," but a lack of "courage to break outdated rules" when questioned about the federal government's answer to his worries. He warned that without innovations, Germany will lose its competitiveness.
Ultimately, he commented that Germany urgently needs a more opportunity-oriented attitude toward innovation, adding: "It's not about ignoring risks, it's about enabling opportunities."
Follow GreenNewDeal.news for more stories about Germany and the EU's push for so-called green energy at the cost of their economies.
Watch this video about the economic recession happening in Germany and other parts of the EU.
This video is from the MEGA (Make Earth Great Again) channel on Brighteon.com.