The Financial News

The Financial News

Germany’s coal phase-out: How one region is being transformed? | DW News


For decades, coal was the lifeblood of the economy of the eastern German state of Saxony-Anhalt, creating jobs and shaping the identity of its residents. But in 2020 the German government decided to phase out coal by 2038 at the latest. To cushion the social impact, the government approved a massive support program: with 4.8 billion Euros earmarked for Saxony-Anhalt and additional funds coming from the EU. We look at what has been achieved with the money so far and whether local residents believe this major transformation will succeed.

#germany #coal #coalmining #economy #europe #dwgermanpolitics

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