Germany's Economy Shrinks, Finance Minister Calls for Reforms

Christian Lindner denies Germany is the 'sick man' of Europe, attributing economic struggles to multiple crises and calling for structural reforms.

Germany's economy shrank by 0.3% last year, the first contraction since the onset of the Covid-19 pandemic.
Finance Minister Christian Lindner denies Germany is the 'sick man' of Europe, instead describing it as a 'tired man' in need of structural reforms.
Germany's economic struggles have been attributed to multiple crises including high inflation, interest rates, and weak domestic and foreign demand for German goods.
The country's reliance on Russian natural gas and the subsequent energy crisis following Russia's invasion of Ukraine have significantly impacted Germany's industry.
Germany is also grappling with the effects of China's economic troubles and the shipping crisis in the Red Sea.