Germany Will Be The Biggest Loser in Case of Sanctions against Russia
Germany could be the EU member state to suffer the most from sanctions imposed on Russia.
Data in an article posted on German newspaper Die Welt's website suggests that economic measures against Russia would be dangerous not only for Germany's energy security, but also for its car industry and its retail.
About EUR 19 B of German direct investment have been put into Russia, which places the country on top of the list of EU states investing in Russia.
It also has a huge share of more than 30% of European exports to Russia, with other countries lagging far behind: second is Italy, with 9.04%.
Russian neighbor Poland, which strongly supports sanctions is third, with just 6.79%.
Other countries in Europe could also suffer great exposure, with French cosmetics industry, as well as French and Italian banking, likely to observe huge losses.
Sanctions against Moscow could thus raise pressure on European companies and not on Russia, Die Welt has hinted.
EU members in South-Eastern Europe, with the exception of Romania, have warned against approving European measures, explaining their industry and tourism would be hit hard as their economies are largely intertwined with Russia.
- » EU Moves to Extend Russia Sanctions over Ukraine
- » Russia Suspends Its Participation in PACE Until End of Year
- » EP's Schulz Criticises Tsipras of Splitting Common EU Stance on Russia
- » EU Foreign Ministers to Discuss Further Sanctions Against Russia
- » New Greek Govt Objects to EU Call for Further Sanctions on Russia
- » Gazprom Plans to Start Pumping Gas to Turkey via New Pipeline in Dec 2016
ardland et al.
don't get so worked up. The new Soviet Union has a GDP that is slightly above that of the Netherlands. It has NO industrial base and NO competitive companies, a decaying infrastructure and a life expectancy of young males that is lower than even in most AIDS-affected African countries. And a 100+ million Chinese in Siberia are already laughing and secretly preparing THE REFERENDUM (if you get the drift).
Now go away, back to your sandbox.
The country that will lose most if serious sanctions would be applied would be of course Bulgaria. Bulgaria is more dependent from Russia than any other country in Europe, thanks to the glorious work of Bulgarian politicians.
Let's just compare the situation with for example Romania:
Romania: 4.3% of the imports from Russia (including gas and oil), 3% of the exports go to Russia
Bulgaria: 19% of the imports from Russia (90% of the gas), the only oil refinery is Russian-owned, the only nuclear power station (that is producing 40% of Bulgaria’s electricity) is depending from Russian supply of nuclear fuel rods and spare parts, 25% of the tourists come from Russia, Bulgarian politics is dominated by Russian influence agents (or even born Russians).
That just shows how much Bulgaria is depending from Russia, thanks to the efficient work of all the mutra and politicians and “patriots” who are always so loud about “Bulgarian interests” – but who care only for the interest of their pay-master.
Bulgaria is contrary to Romania just a puppet state of the new Soviet Union – a country of bootlickers and a*swipers that take a pleasure in being the slaves of their “liberators” (who kept them on the level of a third world economy and a totalitarian regime for 45 years, and who renewed their “liberation” under the disguise of a mock “market economy” and “democracy” controlled by former secret agents and KGB informers).
In 5 to 10 years we will see that almost all Balkan countries will develop considerably not only economically but in all other aspects of life as well. But for Bulgaria the future is bleak. A nation that aspires to be not more than bootlickers and as*wipers for the next thousand years is doomed.
Ardland is right when he lists all the great things Russia possesses that the West doesnt. A few more items to add to the list:
13. Russia has worlds biggest apple, weighing more than 3.25kg
14. Russia produce more metric tons of apricots than any individual country in the EU.
15. Russia has the second biggest goat in the world (after Azerbaijan) - USA ranks only 5.
At a press conference today in Holland Obama poked at Russia, downplaying its influence on the world stage.
"Russia is a regional power ..."
REGIONAL POWER, Obama? Seriously?
1. Does EU have it's own Global Positioning System?. NO! They are still working on it (Galileo). Russia has had one forever, and it is called GLONASS. Every latest-generation Russian smart phone is GPS/GLONASS compatible.
3. Is EU sending human crews to space? No! The Russians and the Chinese are the ONLY ones who can do so at this point (the Americans have given up on the human part of their space program)
3. Russian car market is second in Europe (right behind German),with a strong growth trend. A few car factories have been extremely successful and profitable, and one of them (Kamaz truck factory) has been the winner of the Paris-Dakar rally nine years in the row.
4. Does EU have a 5th generation fighter plane? No, it does not and has no plans to make one. On the other hand, the Russians do: it is called Su-50 (or PAK-FA)
5. EU is totally dependent on imported oil and gas, whereas Russia is the world's greatest producer and exporter.
6. Does EU have it's own, indigenous anti-missile shield? No, it does not (they are only now working on it). The Russians have some the world's best, top-of-the-line, state-of-the-art systems" S-400, S-350E, and the most recent, S-500
7. Russia ranks 4th among global producers of gold with huge PHYSICAL reserves of gold, which are both real and tangible, unlike those "reserves" at Fort Knox, or the German gold "reserves" which "mysteriously" evaporated while being "safe kept" in the vaults of the Federal Reserve Bank in New York,
8. Russia has virtually unlimited reserves and supplies of drinkable (sweet) water, also known as new liquid gold.
9. Russia is the world's greatest producer or titanium, nickel, copper, etc.
10. External debt of Russia is well below 10% of it's GDP (unlike that of the "wealthy" western countries, who are up to the eyeballs in debt.
11. Russian GDP growth rate since 2000: about 300%; American GDP growth rate since 2000: about 8%
12. Russian unemployment rate: officially 5.6%, realistically around 7%; American unemployment rate: officially 6.7%, realistically around 25%