The President of the Bundesbank said that he “goes crazy” when he has to listen to his Russian counterpart in the G-20 format about how important international cooperation is.
Russia’s calls for cooperation with G20 countries are a mockery of its invasion of Ukraine in 2022. Bundesbank President Joachim Nagel announced this on Saturday, October 26, in Washington, according to a Bloomberg report.
He recalled that the decline in Germany began in the spring of 2022, and the reason for this was the great war in Europe, which was started by Russia.
“It drives me crazy when I have to listen to a Russian colleague at the G-20 telling me how important international cooperation is. Absolutely unacceptable,” Nagel said.
That is becoming more important now, he said, as Germany addresses the issues holding back its economy.
The publication notes that Russia’s invasion of Ukraine has raised concerns that energy could become a shortage in Europe’s largest economy. Although Germany quickly addressed the problem, the war hit business and consumer confidence, heightened political tensions and exposed flaws that ran deep in the country’s industrial base.
“We know we have structural problems in Europe, now we have to find smart ways – and there are smart ways – to overcome these structural problems,” Nagel said.
It was previously reported that Russia’s military economy is starting to run out. The International Monetary Fund lowered its forecast for the Russian economy and now sees growth in 2025 at 1.3%, down from 1.5% previously.
The Russian Federation accused Berlin of violating the German unification treaty
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.