Germany needs a bailout

brickster69

Olaf doing a photo shoot with the elusive turbine today in Germany. No hurry Olaf lad, just peoples bills going up 5 fold and being asked to take cold showers.

https://twitter.com/reuters_csteitz/status/1554731817613271042

brickster69

Schroder urges Germany to open Nordstream 2

https://www.politico.eu/article/schroder-confirm-meeting-putin-urge-switch-nord-stream-2/

brickster69

Looks like Germany is in a really difficult spot now with the sanctions they they have imposed on themselves.

https://twitter.com/GazpromEN/status/1554866782569119745

Podge_irl

https://www.boards.ie/discussion/comment/119424244#Comment_119424244

Of course he does 🙄

He is quite literally an agent for Gazprom at this stage.

Danzy

https://www.boards.ie/discussion/comment/119424862#Comment_119424862

Germany is not in trouble because of the sanctions.

It is in trouble because Schroder and Merkel spent years preventing alternatives to Russian gas and undermining German energy security for the benefit of Russia.

At least Gerhard is open about where his loyalty is. Merkel remains 2 faced.

Labaik

https://www.boards.ie/discussion/comment/119424901#Comment_119424901

If only they listened to Donald Trump.

Danzy

https://www.boards.ie/discussion/comment/119425097#Comment_119425097

The list of people warning them was long.

brickster69

https://www.boards.ie/discussion/comment/119424901#Comment_119424901

Germany and the others who get gas from Russia now have 3 options available to them.

Cancel the sanctions on energy parts and maintenance officially, license and use Nord stream 2 or keep getting 80% less gas and higher prices for everyone. It's not really a difficult choice considering there are no sanctions on Gas itself apart from having to pay in roubles.

Tonesjones

https://www.boards.ie/discussion/comment/119425097#Comment_119425097

https://youtu.be/1JpwkeTBwgs

He told them all straight to their faces but they said no it won't happen

screamer

I think it’s important that we all become more self reliant. Energy and food security are paramount, and the EU policies to reduce or remove industries and centralise them are not good. In times of shortage, sharing goes out the window. the EU was setup as an organisation for energy and economic co operation and they’ve been deluding themselves all these years that this can occur when they are all so heavily dependent on other counties outside the block for said energy and in a lot of cases economics. I think merkel kept things nice with Putin but he timed his moves perfectly and for all they give out about him, he’s got a strategy, terrible as it is.

Danzy

https://www.boards.ie/discussion/comment/119426584#Comment_119426584

Why would Russia turn on the gas in that scenario?

KildareP

https://www.boards.ie/discussion/comment/119426654#Comment_119426654

Money

Danzy

https://www.boards.ie/discussion/comment/119426671#Comment_119426671

Gas isn't a major revenue source and the damage it does is more beneficial.

brickster69

https://www.boards.ie/discussion/comment/119426654#Comment_119426654

Maybe the won't who knows. Looks like only one way to find out though.

Tonesjones

If I were Putin I would turn the gas off in early November without warning. It would cause complete chaos in Europe and wouldn't allow any real time to source alternative or a cohesive plan.

The goal would be to politically destabilise European countries by creating misery and hardship for the citizens

timmyntc

https://www.boards.ie/discussion/comment/119426686#Comment_119426686

Gas is a massive revenue source for them, one of their largest.

And its not easily moved elsewhere as its heavily reliant on pipelines, most of which go to Europe

Danzy

https://www.boards.ie/discussion/comment/119426818#Comment_119426818

Gas is about 6% of their exports, oil and oil products are about half.

He is willing to burn down everyone's House in the belief that Russia will emerge due to the resilient nature of its people.

EOQRTL

https://www.boards.ie/discussion/comment/119425097#Comment_119425097

They where too busy laughing at him, don't see them laughing now funnily enough.

EOQRTL

https://www.boards.ie/discussion/comment/119426762#Comment_119426762

All Russia need to do is get too the end of October/mid November and the sanctions will start dropping like a 10 dollar hookers knickers from the EU in the hope Putin won't turn off the taps. We get the odd cold day here in Ireland but it's nothing compared to Germany. They've really screwed themselves.

brickster69

Look even the crematoriums are in a panic. At least it's customers wont be too bothered.

https://tfiglobalnews.com/2022/08/04/germans-cant-even-cremate-their-deceased-ones-and-a-civil-war-is-brewing/

Markcheese

We're all master strategists on here - Germany had just woken up to the the fact that they got played - and the likes of Schroeder are/ were effectively traitors ..

The Germany public can easily get through this winter .. German industry not so much ...

And there are lots of other eu countries even more reliant on Russian gas than Germany..but without Germany's deep pockets ...

It's a 2 way thing though ,Europe depended on Russia for energy - and Russia depended on Europe as a customer ...the Russian economy IS in the shite and expected to get really really bad in Sept/ oct ..

Marcos

https://www.boards.ie/discussion/comment/119425097#Comment_119425097

Things you never thought you'd hear said publicly. But a stopped clock and all that.

Markcheese

a good analysis of any winter gas crisis

https://youtu.be/J4-k4Cnottw

SeanW

https://www.boards.ie/discussion/comment/119427126#Comment_119427126

This is what happens you leave your country reliant on a genocidal mass murdering imperialist like Vladimir Putin. Germany was warned that this would be a mistake. Your source is TFI Global News based in India. India has for whatever reason, decided to go all in on buying blood gas and blood oil from Putler and naturally they have to justify that decision, hence the line their media is taking.

brickster69

https://www.boards.ie/discussion/comment/119429311#Comment_119429311

Don't moan about India buying Russian energy when the EU has funded the whole Russian military operation. 70 billion euros spent up to now has paid for every soldiers wage, every bullet and every missile launched.

SeanW

You are right about that. Europe screwed up big time by becoming dependent on Russian terrorists' energy. But India's actions post 24-Feb have been ... puzzling to say the least.

brickster69

https://www.boards.ie/discussion/comment/119429373#Comment_119429373

Not really some countries just want to stay out of things and not get involved

https://www.youtube.com/watch?v=Av1wcg7h_Tw

fly_agaric

https://www.boards.ie/discussion/comment/119429418#Comment_119429418

Suppose I should be better than this but...the next time they are looking for help with some problem: "India's problems are not really Europe's problems: Return to sender. Go ask Mad-Vlad Putin and Benevolent Chairman Xi!"

...

My working theory around a few of the countries that refused to even rhetorically condemn Russia's invasion (that is almost cost-free for them IMO, unlike issue of buying oil) is they are quite big beasts whose power is likely only going to grow this century. They might want to pull the same kind of bullshít on an annoying smaller weaker neighbour themselves once they feel strong enough and the global environment suggests they can do it and get away with it or even profit. So better to say nothing and watch what happens.

brickster69

Wages starting to spiral. Lufthansa seals ground crew wage deal to avert further walkouts. Check-in staff will get between 13.6% and 18.4% more pay.

brickster69

Germany's network regulator chief says they need to reduce gas consumption by 20% and also reduce gas exports to neighbouring countries by 20% to avoid problems by Christmas.

https://www.reuters.com/article/ukraine-crisis-germany-gas/germans-must-cut-gas-use-further-to-avoid-shortages-in-winter-says-regulator-idUSL1N2ZH1OF

brickster69

Germany's main transport route for industries and power plants is on the verge of closure due to the weather. Water level is at 48 cm's 9 cm's short of being impassible. Prices for barge transportation is also up 450% since June

https://euobserver.com/tickers/155719

lawred2

https://www.boards.ie/discussion/comment/119433774#Comment_119433774

Good

EOQRTL

https://www.boards.ie/discussion/comment/119429373#Comment_119429373

Nothing puzzling about it, they are looking after their own stable just like each and every one of us when we turn on the gas to heat our homes or cook our food. None of us want to admit it but our money is paying for the killing of innocent Ukrainians in this war.

Wanderer78

https://www.boards.ie/discussion/comment/119444142#Comment_119444142

as opposed to some of our money killing others around the world also.....

brickster69

Not just Germany. Having had to close 5 of Europe's largest coal mines Poland is suffering from a severe lack of coal. The EU's full ban on Russian coal comes into effect on the 24th of August. Looking likely Turkey is going to become a big exporter of thermal Coal this winter.

https://twitter.com/FFailings/status/1556552976780578817

brickster69

Well they would only pay 1% towards the military, what do you expect. What a **** show honestly 🤣🤣

https://gagadget.com/en/war/153239-spain-will-not-transfer-the-leopard-2a4-to-ukraine-the-tanks-are-in-terrible-condition-and-cannot-be-upgraded/

brickster69

Good one this 🤣

For 10 years Spain have been asking to build a pipeline to Europe but it was constantly blocked by France & Germany as they both wanted to sell energy themselves to other countries. Now Scholtz is saying one would vastly improve Europe’s energy security, it would take years to build one.

https://twitter.com/ftenergy/status/1557738452271382528

brickster69

Anyone seen the film Margin Call ?

A nasty hedge sat on Germany's largest energy company RWE due 31/12/2022

If prices were to stay as today it would incur a call of 200 billion euros or eight times the value of the business. They are classed as assets on the balance sheet when in fact it is a nuclear bomb unless prices go down to 31/12/2021 levels

xxxxxxl

https://www.bbc.com/news/business-62554464

Not looking good for households in Germany. Love the Quote.

Economy Minister Robert Habeck said: "The levy is a consequence of Putin's illegal war of aggression on Ukraine and the artificial energy shortage caused by Russia."

Err nope minister its due to your reliance on Russian Gas. If I was a German I would find that comment really hard to swallow.

mustardorcustard

The containment strategy of Germany isn't working out so well, is it?

I wonder what they'll do when pushed against the wall? Complete mystery.

Marcos

Well things are not looking good for Germans at the moment. Klaus Mueller, the head of domestic intelligence service in the German state of Thuringia - warned that 'legitimate' protests over the energy crisis could be 'hijacked by extremists' (and definitely not just enraged average citizens).

Kramer said that officials were bracing for protests over "gas shortages, energy problems, supply difficulties, possible recession, unemployment, but also the growing poverty right up to the middle class," adding that "extremists" which include "lateral thinkers" who rallied against pandemic lockdowns, and 'right-wing activists' who have been stirring the post over social media, could be at the heart of them.

"We're likely to be confronted with mass protests and riots," he continued. "We’re dealing with a highly emotionalized, aggressive, future-pessimistic mood in society, whose trust in the state, its institutions and political actors is fraught with massive doubts."

"This highly emotional and explosive mood could easily escalate," the security chief continued, adding that the Covid-19 clashes would "probably feel more like a children's birthday party" by comparison.

So people protesting against having to choose between freezing or feeding themselves are now going to be regarded as extremists? Nothing like getting in your excuses early, it sounds a lot like that muppet who compared Water Charge Protestors here to the Taliban.

Anyway, it's not looking good, when Germany catches a cold watch what happens to the rest of us.

Jonnyc135

https://www.boards.ie/discussion/comment/119485017#Comment_119485017

Yeah typical isn't trying to get there excuses and labels in already as brandishing anyone protesting as extremists. Free speech is no longer allowed according to these people. I do believe there will be serious unrest for all democracies down the line

xxxxxxl

https://www.boards.ie/discussion/comment/119485976#Comment_119485976

It's mad how dare you question our energy policy know your place. It's not our fault the officials you elected no not at all.

brickster69

They have lost the plot, i mean fancy voting to impose shock and awe sanctions on the country you and others rely on for energy, without having back up supply in place beforehand. Did anyone even consider the consequences of what would happen if Russia turned the taps off in response ?

Dyr

https://www.boards.ie/discussion/comment/119485017#Comment_119485017

Being opposed to causing a massive global recession by shutting down societies and economies is "extremism", funny world we live in.

brickster69

In the middle of a heatwave in August

Markcheese

https://www.boards.ie/discussion/comment/119486388#Comment_119486388

Lack of options ?

Basically the US , UK . Baltics,Poland and the rest were going down that road and Germany is trying not to stick out like a sore thumb .. I still reckon they're hoping for the war to end and get back to buying Russian gas ... They'll probably build a coue of LNG plants and keep their considerable gas storage full ( er ) going forward though ...

MrMusician18

Nordstream closed now indefinitely. It's going to be a long hard winter for us all

PommieBast

https://www.boards.ie/discussion/comment/119561250#Comment_119561250

The only surprise there is how long it stayed open...

Varik

I think Russia keeping it open partially with the uncertainty of if and when it'd close probably drove prices up more than if they shut it off.

Same for food and fertilizer, uncertainty and panic do more harm and scarcity.