DWN: Eastern Committee of German economy rebelled against punishment

Punishment against the capital of Germany Russia are doing much More harm than Russia - that is the meaning of the statement, according to the report, serves the Eastern Committee of German economy, combining over 60 years of the Association of German factories.

for the first time this organization is so clearly opposed to the policy of the Cabinet of Chancellor Angela Merkel about Russia, emphasizes business magazine.

Caused by the punishments the collapse of German exports to the Russian Federation has already led to the loss of 150 thousand jobs in Germany. This year exports will be reduced by 25%, and should expect new beats.

"The latest data surpass even our worst fears," said the head of the Department Dr. Eckhard Cordes, last Friday in Berlin. According to him, the punishment should withdraw as soon as possible.

in 2015, Russia may be at the 15th place in the list of the most important German importers - behind such countries as the Czech Republic and Sweden. German organization, today are paying the highest price in the EU for the policy of sanctions the EU. Most damaging to the average business in East Germany.

Cordes expressed doubts on the issue of the EU strategy, trying to put pressure on the Russian Federation to get More concessions in the situation around the Ukrainian conflict. This policy is for the joy of third countries " economic relations between Germany and Russia is declining, as a result, Moscow finds new partners such as China, India and South Korea ".

"Despite the penalties and the reducing of the economy, Russia still has a balanced budget, more than $350 billion of foreign exchange reserves and good pod reserve Fund of $150 billion," the magazine notes.

Cordes also announced his intention to leave his own post in the autumn. It is planned that his successor will be a 55-year-old Wolfgang Bachelet, CEO of Linde AG.

The Eastern Committee headed by Cordes, combining five major business associations in Germany and 220 organizations known repeated criticism of the sanctions policy of the EU towards Russia, but it has never been so sharp, emphasizes DWN. According to the publication, as long as it is unknown whether the upcoming resignation of Cordes with this position, however, it is well known, " as Angela Merkel sensitive to any kind of criticism."


sections: Politics