If you want to understand the background of the current economic crisis, then you should definitely not miss this show! In addition to the true causes of the misery, those recipes are also discussed that will put Europe and Austria back on the road to success.
It is not only temporary crises, such as the Ukraine war, that endanger Europe’s prosperity, political scientist Schöllhammer emphasizes in a TV talk with Schmitt. Rather, one is facing fundamental changes with long-term consequences: “The Ukraine war has only intensified many things.” This can be seen in all relevant areas, whether energy, inflation or falling behind in key industries. “Even with a peace agreement in Ukraine, the problems would not be solved. The current situation should be a wake-up call,” emphasizes Schöllhammer. “We have slept through a lot in the past decades.”
Digitization has left Europe de facto untouched. “There is no European WhatsApp, Facebook or Amazon.” Schöllhammer misses the step of saying openly: “We have to make up for this loss of competitiveness.”
When asked whether politicians are taking the current crisis too lightly, the political expert replies: “90 percent don’t seem to understand how supply and demand work. We have a supply-side problem globally. More money pumped in will not replace the missing goods and raw materials. Then existing energy will only become more expensive, but no more. You would have to increase production.” But unfortunately: “There is no plan.”
As an example of future oblivion, Schöllhammer also mentions the German debate as to whether the last three remaining nuclear power plants should remain in operation longer or be shut down as planned. In truth, one would have to ask oneself whether one would like to put the shut down nuclear power plants back into operation. “Where is the open, honest debate on the energy issue, be it hydro or nuclear?”.
It is particularly absurd when, of all things, a coal-fired power plant is being renovated again. The Danish author Bjorn Lomborg has shown in a graphic: The additional emissions from coal-fired power plants, which are now being put back into operation in Europe, are higher than the emissions in all African countries from energy consumption.
Germany as an industrial location is currently dying. Here, too, Schöllhammer refers to depressing figures from Germany, according to which German industry has already fallen behind in recent years.
The USA, for example, is pursuing a farsighted policy when it invests hundreds of billions of dollars in setting up a chip factory because it does not want to be dependent on foreign countries for such a key industry as semiconductor production. “This is forward-looking politics.”
Russia was also more clairvoyant: It has massively expanded its nuclear energy so that it does not need gas and coal for its own needs, but can export them – and thus create dependencies. Europe, on the other hand, has become increasingly dependent on Russia, which must have fueled Russia’s courage to go to war.
What should Europe do now? If you want to know that and want to better understand all the background to the current crisis, then join us: At 8.15 p.m. on eXXpressTV and exxpress.at!