The change in the geopolitical order, disrupted by the invasion of Ukraine, has exposed the weaknesses of the German economic model. The German model, points out Wolfgang Münchau in one of his analyses for Eurointelligence, hinges on three ingredients: cost competitiveness, technological leadership in its industry and geopolitical stability, and ‘all of them are gone,’ he adds. On the one hand, the cut-off of Russian gas — which accounted for more than 50% of the gas consumed in Germany — has impacted the electro-intensive industry, forcing businesses like the chemical company Lanxess to restructure their business and close plants.

Historically, the disaster restoration industry was made up of smaller, independent businesses handling local projects. But after Hurricane Katrina in 2005, private equity firms saw an opportunity to consolidate the market by buying up smaller companies, and some estimates value the US restoration industry as high as $200bn.

Archive: [ https://archive.ph/HKqII ]

At one point this year, about $980 million in weapons contracts had missed their delivery dates, according to government figures, and some prepayments for weapons had vanished into overseas accounts of weapons dealers, according to reports made to Parliament. Though precise details have not emerged, the irregularities suggest that procurement officials in the ministry did not vet suppliers, or allowed weapons dealers to walk off with money without delivering the armaments.