Olaf Scholz in Berlin on January 17.
Photographer: Jacobia Dahm/Bloomberg
The Big Take
Scholz Sees Germany Riding Out War in Ukraine Without Recession
Fresh sources of energy have convinced the German chancellor that Europe’s largest economy will avoid a contraction this year
Chancellor Olaf Scholz said he’s sure Germany will avoid a recession this year, offering reassurance for Europe’s largest economy as it faces down Russia’s energy squeeze.
Germany is getting through the winter energy crunch in better shape than feared just a few weeks ago, and Scholz said that diversifying gas supplies has been critical in helping to keep the economy going.