German Chancellor Friedrich Merz cautioned on Monday that the ongoing Iran war will inflict long-term damage on the global economy, with Germany bracing for a substantial and extended economic strain. Speaking at a press conference in Berlin, Merz stated: “We will feel the consequences of this war for a long time to come, even after it is over.”
Burden on households and economy
“Consequently, we are also preparing for a significant burden on the German economy for an extended period — and thus a considerable burden on private households as well,” Merz added. The conservative leader expressed regret over the failure of US-Iran talks hosted in Pakistan’s capital over the weekend but noted that he had anticipated difficulties from the start.
Diplomacy a long-term process
“I wasn’t surprised by the decision to break off the talks in Islamabad. From the very beginning, I didn’t get the impression that they were really well prepared,” Merz told reporters. He emphasized that reaching a diplomatic solution would be a lengthy process. “We are talking with the US administration, we are talking with the parties to the conflict, and we are talking with Israel. This will remain a long-term process,” he stressed.