Berlin, Germany— The minister of economy for Germany Robert Habeck has called for an extension of the rescue umbrella for small and medium-sized enterprises (SMEs) threatened by the energy crisis in his country.
Habeck said that the German government should not leave small and medium-sized companies to face the risk of recession alone: stressing that he will not allow this to happen.
In order to achieve this goal, the government must support these types of companies and work to slow down the recession.
The German minister seeks to include about one million small and medium-sized companies under the protectionist umbrella, in order to support the economic foundation of Germany.
The German economy, like the economy of the vast majority of European countries, faces major challenges due to the Russian military operation in Ukraine, with Moscow suspending energy supplies to Ukraine’s allies: leading to an unprecedented rise in inflation levels that are heading towards a recession.