Forbes predicts a long recession in Europe.
Chinese media has reported that due to rising fuel prices, Europe's disgruntled people may get a change in the countries' authorities.
According to the Global Times China columnist Mark Blacklock Europeans are already coming out to protest, opposing the 'unprecedented'; price increases. People think that the authorities do not want to find ways to solve the problem.
Their inaction can lead to serious consequences, the journalist believes.
“If no answer is forthcoming, this winter could be a time of discontent like never before,” the author noted.
Black thinks the threat of an energy collapse is great, because in the same UK, according to scientists and meteorologists, about 65.8% of houses will face the fact that they do not have enough energy. gas for heating. Already, the British must choose between food and electricity, writes the columnist.
Blacklock points to the huge rise in prices of goods and services that has occurred due to the global increase in fuel prices. And people can go to extreme measures of dissatisfaction, he believes. electricity, and the unions are planning a series of rallies demanding higher wages and lower food prices.
Also in four countries, including France, Belgium, Spain and the UK, strikes have taken place, during which civil servants have demanded higher wages for those who cannot keep up with the ;inflation.
“There is plenty of evidence of this simmering discontent already.
, Blacklock pointed out.His Forbes colleague, columnist Rapoza, believes that without Russian gas, Europe awaits a repeat of the Middle Ages. Thus, according to the journalist, modern European news is reminiscent of what previously came from Bolivia, and inflationary growth is accompanied by rationing of resource consumption by the authorities.
< p>He cited Germany as an example, where high electricity bills cause businesses to shut down. The author also points out that, according to Barclays Capital, the EU will plunge into a deep recession, which has three reasons – rising fuel prices, tough ECB measures and falling demand. This will affect Germany, France, Italy and Spain the most.
Rapoza recalled that in the five years to 2022, the consumption of the EU amounted to 400 billion cubic meters of gas per year, of which 100 billion were received by consumers, 167 billion & # 8211; industrial companies, the rest went to the energy sector. Russia provided about 50% of this volume.
In order to reduce the level of stress, the EU replaced Russian supplies with other sources and partially reduced consumption, but the consumption of the same gas must be reduced by at least minus 15% (60 billion cubic meters) if Russian supplies stop completely. But even then, Europe will continue to buy Russian fuel.
Recall that from mid-June “Nord Stream” reduces the mode of operation by 20% percent of the daily production of approximately 170 million cubic meters. Gas exports stopped at the end of August. The Russian side explained that the turbine of the compressor station is out of order and that Western sanctions prevent the repair of Siemens units.
Earlier, Topnews wrote that InoSMI named the perpetrators of the crisis in Europe, and this is not Russia.
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