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From Eurointelligence email briefing earlier this week:

Germany's energy strategy could cost €1 trillion...

If you want to know the Achilles heel of the German economy, it is energy. Having unilaterally dumped nuclear energy, and refusing to support fracking, the German government is now working on a strategy to square the energy needs of the country and the industrial competitiveness - and this just does not add up. In an interview with Frankfurter Allgemeine, environment minister Peter Altmaier estimated that the total costs for this strategy would be about €1 trillion. The accounting mechanics behind this number is tediously complex. Altmaier compared the rise in energy-related costs to the increase in public debt to GDP, which, too, had been underestimate for too long.

Analysis Eurointelligence's own...

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Feb 23rd, 2013 at 01:56:41 AM EST
[ Parent ]
 "Altmaier compared the rise in energy-related costs to the increase in public debt to GDP, which, too, had been underestimate for too long."

In other words he did compare a non-existing problem with another one.

by IM on Sat Feb 23rd, 2013 at 06:41:50 AM EST
[ Parent ]

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