foreign policy principle, putting business first, not military power, was suddenly, it looked like weakness. chancellor olof shulz promised dramatic change. my guest is the state secretary for cooperation niels annen. so has germany got a new strategic vision? niels annen, welcome to hardtalk. thank you. pleasure. it is great to be here. let s start with the war in ukraine. i think there is no doubt that putin s invasion of ukraine shocked germany. would it be fair to say it has also destabilised germany? no, i don tthink destabilised germany? no, i don t think so destabilised germany? no, i don t think so but destabilised germany? no, i don t think so but it - destabilised germany? no, ll don t think so but it certainly shocked germany because a lot of our economic model was based on the assumption that we would continue using cheap russian natural gas and it was also based in a kind of historic, i want to say historic experience that although russia was a competitor an
policy making principle putting business first, not military power well, suddenly it looked like weakness. chancellor olaf scholz promised dramatic change. my guest is state secretary for economic cooperation niels annen. so, has germany got a new strategic vision? niels annen, welcome to hardtalk. thank you. pleasure. well, it s great to be here. let s start with the war in ukraine. i think there s no doubt that putin s invasion of ukraine shocked germany. would it be fair to say it has also destabilised germany? no, i don t think so. but it certainly shocked germany because a lot of our economic model was based on the assumption that we would continue using cheap russian natural gas. and it was also based in a kind of historic, should i say, historic experience that although russia was a competitor and an enemy in the cold war, it was always also, in economic terms, a quite reliable partner. and i think that was somehow, you know, seen as a constant policy. and we did n
chancellor olaf scholz promised dramatic change. my guest is the state secretary for economic cooperation niels annen. so has germany got a new strategic vision? niels annen, welcome to hardtalk. thank you. pleasure. it is great to be here. let s start with the war in ukraine. i think there is no doubt that putin s invasion of ukraine shocked germany. would it be fair to say it has also destabilised germany? no, i don t think so but it certainly shocked germany because a lot of our economic model was based on the assumption that we would continue using cheap russian natural gas and it was also based in a kind of historic, i want to say historic experience that although russia was a competitor and an enemy in the cold war, it was always also in economic terms quite a reliable partner. i think that was somehow, you know, is seen as a constant policy, and we did not really realise that it is not the soviet union anymore, it is a brutal dictator and an unpredictable dictator. but
my guest is state secretary for economic cooperation niels annen. so, has germany got a new strategic vision? niels annen, welcome to hardtalk. thank you. pleasure. well, it s great to be here. let s start with the war in ukraine. i think there s no doubt that putin s invasion of ukraine shocked germany. would it be fair to say it has also destabilised germany? no, i don t think so. but it certainly shocked germany because a lot of our economic model was based on the assumption that we would continue using cheap russian natural gas. and it was also based in a kind of historic, should i say, historic experience that although russia was a competitor and an enemy in the cold war, it was always also, in economic terms, a quite reliable partner. and i think that was somehow, you know, seen as a constant policy. and we did not really realise that it s not the soviet union any more. it s a brutal dictator and an unpredictable dictator. but what you ve just described is a very big de
plus rising prices falling ratings. can president biden win the argument on the us economy with just days to go until the midterm elections? and a pressing crisis. the cost of olive oil set to soar with harvests shrivelled by europe s summer heatwave. hello. we start here in the uk which is now facing the longest recession since records began, a century ago. that was the bleak warning from the bank of england on thursday, as it raised interest rates to 3% to try to dampen down soaring inflation. the bank says the uk economy is already in recession, and could keep declining until the middle of 202a. the pound slumped on the news to its lowest in more than two weeks. here s our economics editor faisal islam. the end of a decade and a half of ultralow interest rates was always going to be difficult, but dealing in mortgages has in recent weeks felt more like the stock market than the housing market. , , stock market than the housing market. , , . ., , market