The announcement by the German Minister of the Economy on Wednesday, October 12, 2022, forecasts a 0.4% decline in German GDP for the year 2023. If this news is bad for the 4th economic power in the world, it was predictable given the state of the European economy post-Covid, the tightening of the ECB’s monetary policy and the geopolitical tensions between Russia and the West over the subject of energy. We take stock in this article.