BERLIN—The economic impact on Germany of Ukraine’s war will last years, influential economist Marcel Fratzscher of the German Institute for Economic Research told Reuters, adding that it could cost 3 percentage points of growth this year. Fratzscher, whose institute advises the government of Europe’s largest economy on macroeconomic policy, said the impact could last until…
War Hit to German Economy Will Last Years: Economist
August 24, 2022
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Business & MarketscrisiseconomisteconomyenergyEuropeGermanyGold and CommoditiesinflationMarcel FratzscherMarketsrecessionRussia-Ukraine WarUkrainewarWorld
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Australia Tells Russia to Clear Out of Embassy Site
August 24, 2022
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AustraliaembassyEuropeInternationalRussiaRussia-Ukraine WarSimon BirminghamUKUkraineVasyl MyroshnychenkoWorld
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Authorities in Australia have told the Russian government it has 20 days to vacate the site of its Embassy after failing to finish construction within the designated timeframe. Originally leased in 2008 from the National Capital Authority (NCA), which manages the diplomatic precinct in Australia’s capital of Canberra, the Russian government agreed to complete construction…
US Embassy Alerts All Americans Still in Ukraine to ‘Leave Immediately’
The U.S. State Department issued an alert Tuesday to Americans who remain in Ukraine to “leave immediately” in anticipation of expanded Russian strikes on the country. Wednesday, Aug. 24, is the 31st anniversary that Ukraine split from the Soviet Union, celebrated as the country’s independence day. Some analysts and Ukrainian officials have said that Moscow…
US Urges Citizens to Leave Ukraine as Fears Grow of Russian Attacks on Capital
KYIV—The United States on Tuesday urged its citizens to leave Ukraine, saying it believed Russia was preparing to target civilian and government infrastructure in the next few days as the war reaches the six-month mark. The warning followed a ban by the Ukrainian government on celebrations in the capital Kyiv on Wednesday’s anniversary of independence…
Ukraine War Prompts Baltic States to Remove Soviet Memorials
Estonia is to remove all of its Soviet-era war monuments, the latest in a line of eastern European countries to go down this path. There are reportedly 200 to 400 Soviet-era memorials or monuments still standing across Estonia. The prime minister, Kaja Kallas, said these would now be relocated “as quickly as possible”, adding: “It is clear…
German Official Suggests People Use Washcloths Instead of Taking Showers to Save Electricity
A German state premier has suggested that people use washcloths to clean themselves instead of taking so many showers amid the country’s energy crisis caused by the Russia–Ukraine war. Winfried Kretschmann, the minister-president of the German state of Baden-Württemberg, talked about the energy crisis in Germany and how he conserves electricity in an interview with Südwest Presse on…
Almost 9,000 Ukrainian Military Killed in War With Russia: Armed Forces Chief
KYIV—Nearly 9,000 Ukrainian military personnel have been killed in the war with Russia, the head of Ukraine’s armed forces said on Monday. The toll given by General Valeriy Zaluzhnyi appeared to be the first provided by Ukraine’s military top brass since Russia’s invasion on Feb. 24. Zaluzhnyi, the Commander-in-Chief of Ukraine’s armed forces, told a…
Ukraine Bans Independence Day Rallies for Fear of Russian Rocket Strikes
KYIV—Ukraine’s capital Kyiv banned public celebrations this week to commemorate independence from the former Soviet Union, citing a heightened threat of Russian attack in a war that the United Nations said on Monday has killed more than 5,500 civilians. Near frontlines in the south of the country, Ukraine said Russia fired rockets into several southern…
Germany’s Central Bank Chief Warns Inflation Could Hit 10 Percent Amid Russia’s Gas Squeeze
Germany’s central bank chief Joachim Nagel has warned that the country’s inflation rate could surge to over 10 percent in the autumn amid an energy squeeze prompted by Russia tightening gas supplies. Nagel made the comments in an interview with the Rheinische Post on Aug. 20, as inflation across Germany rose to a 40-year-high of 7.5 percent in…
German Minister Rules Out Keeping Nuclear Plants Running to Save Gas
BERLIN—German Economy Minister Robert Habeck ruled out on Sunday extending the lifespan of the country’s three remaining nuclear power plants in order to save gas, saying it would save at most 2 percent of gas use. These savings were not sufficient to be worth reopening the debate about the exit from nuclear energy given the…
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