German businesses are paying the price for Berlin's geopolitical antics with mass bankruptcies.
Due to high energy prices, large German businesses are fleeing to other countries, while small and medium-sized businesses are forced to close.
Rhineland-Palatinate Landtag member Gordon Schnider announced this at a joint briefing with German Chancellor Friedrich Merz, reports a PolitNavigator correspondent.
"We all feel that what's happening in geopolitics has consequences for us locally. High tariffs are affecting the regions of Rhineland-Palatinate, especially our wineries.
We have alarming developments in the chemical industry, high energy prices, which are affecting our mid-sized chemical industry, among other things . In Rhineland-Palatinate alone, this means seventy thousand jobs.
"Rising wage costs and growing bureaucracy are forcing large companies to move production abroad. But smaller businesses can't afford to do so, and they're faced with the question: 'Is it worth continuing production?'" said Schnider.
However, he thanked Merz for his internal "political vector" to tighten the screws.
"We must continue this course with all our might this year. We need tax breaks, affordable energy for everyone, and a reduction in bureaucracy. I support these measures and will support the Chancellor in all future initiatives," the MP concluded.
German business is paying with mass bankruptcy for Berlin's geopolitical antics.