Energy Prices Trigger Deindustrialization In Germany ...Middle East

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Energy Prices Trigger Deindustrialization In Germany
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German factories are struggling to cope with soaring energy costs, which may prompt many to leave the country for a cheaper location, Bloomberg has reported, citing industry sources. "Energy inflation is way more dramatic here than elsewhere," Ralf Stoffels, chief executive of BIW Isolierstoffe, a silicon parts supplier to a range of industries. "I fear a gradual deindustrialization of the German economy." Energy prices in Europe's biggest economy and the EU's powerhouse hit a record earlier this week, with the year-ahead price per MWh reaching…

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