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German economy minister makes unexpected visit to Ukraine

German Vice Chancellor and Economy Minister Robert Habeck unexpectedly arrived in Kyiv on Thursday to discuss post-war reconstruction and show support after Russian attacks on key Ukrainian infrastructure.

Published: 18 April 2024 09:08 CEST
Robert Habeck (Greens), Minister for Economic Affairs and Climate Protection, gets off the night train at Kyiv train station after his arrival on Thursday.
Robert Habeck (Greens), Minister for Economic Affairs and Climate Protection, gets off the night train at Kyiv train station after his arrival on Thursday. Photo: picture alliance/dpa | Kay Nietfeld

“This visit comes at a time when Ukraine needs all the support it can get in its fight for freedom,” Habeck told reporters in the Ukrainian capital.

“And it is a fight for freedom, that’s the important thing that the world, Europe and Germany mustn’t forget,” he said, adding that Ukraine was “fighting for the values that define Europe”.

The trip comes after Germany at the weekend announced it was sending an additional Patriot air defence system to Ukraine after pleas from Kyiv for its Western backer to urgently help foil Russian attacks.

Ukraine has said it is running out of weaponry to shoot down Russian missiles and drones as Moscow ramps up attacks on energy infrastructure.

German Chancellor Olaf Scholz on Wednesday urged fellow EU leaders to urgently follow Berlin’s lead and send more air defence systems to Ukraine.

Habeck, who was accompanied by a business delegation on the trip, will hold talks with President Volodymyr Zelensky.

He will also meet with Ukrainian officials to discuss emergency aid and business ties as well as preparations for the annual Ukraine Recovery Conference to be held in Berlin in June, the German economy ministry said in a statement.

“Comprehensive support for Ukraine also includes support for a resilient energy supply and reconstruction. Private sector investment is crucial for this to succeed,” Habeck was quoted as saying in the statement.

The World Bank has estimated the total cost of reconstruction facing Ukraine more than two years since the start of the war is at least $486 billion.

OPINION: Germany’s timid strategy risks both Ukraine’s defeat and more war in Europe

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POLITICS

‘Dexit’ would cost Germany ‘€690 billion and millions of jobs’

According to the German Economic Institute (IW), Germany's exit from the EU – the so-called Dexit – would cost millions of jobs and significantly reduce the country's prosperity.

Published: 19 May 2024 18:04 CEST
'Dexit' would cost Germany '€690 billion and millions of jobs'

In a study presented by the Cologne-based institute on Sunday, the authors showed that a Dexit would cause real GDP to drop by 5.6 percent after just five years. This means that Germany would lose 690 billion euros in value creation during this time.

In addition, Germany as an export nation is dependent on trade with other countries, especially with other EU countries, warned the authors. Companies and consumers in Germany would therefore feel the consequences “clearly” and around 2.5 million jobs would be lost.

The study is based on the consequences of Britain’s exit from the EU, such as the loss of trade agreements and European workers.

Taken together, the losses in economic output in Germany in the event of a Dexit would be similar to those seen during Covid-19 and the energy cost crisis in the period from 2020 to 2023, the authors warned.

Brexit is therefore “not an undertaking worth imitating,” warned IW managing director Hubertus Bardt. Rather, Brexit is a “warning for other member states not to carelessly abandon economic integration.”

Leader of the far-right AfD party Alice Weidel described Great Britain’s exit from the European Union at the beginning of the year as a “model for Germany.”

In an interview published in the Financial Times, Weidel outlined her party’s approach in the event her party came to power: First, the AfD would try to resolve its “democratic deficit” by reforming the EU. If this was not successful, a referendum would be called on whether Germany should remain in the EU.

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