Germany warns of a ‘Lehman moment’ if Russia cuts off natural gas to Europe

Germany warns of a ‘Lehman moment’ if Russia cuts off natural gas to Europe

Germany is one step closer to having to ration its gas usage as supply from Russia starts to dry up, and the country’s top economic affairs official is warning that it could lead to an even larger economic spillover effect.

As of Thursday, Germany has entered the second alert level of its emergency gas plan, according to Robert Habeck, Germany’s minister for economic affairs and climate action.

At this level, “security of supply is currently ensured, but the situation is tense,”…


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