European Union’s Worst Nightmare Comes True: Recession is Here | Europe Energy Crisis
The signs are quite telling. Europe has officially entered two-quarters of contraction. That means a minimum of six more months of the economy continuing its free fall. To make matters worse, the European Commission believes that inflation hasn’t peaked yet. Mind you, inflation in the eurozone has already reached a record high of 10.7% in October, according to Eurostat’s data of last month. Watch to know more.
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European Union | Europe | Europe Recession | UK Recession | Germany | France | European Commission Recession | Eurostat Data | Europe Energy Crisis | Latest News | Firstpost
#europe #economy #recession #europeanunion #eu #uk #germany #france #latestnews #firstpost | n18oc_world
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The European Union has been hit by its worst nightmare as the specter of recession has descended upon it. The signs of a slowdown were already visible earlier this year, but the COVID-19 pandemic and the subsequent lockdowns have added fuel to the fire.
The European Union has been battling challenges on multiple fronts, including the ongoing Brexit episode, rising geopolitical tensions, and the energy crisis. The COVID-19 pandemic has only worsened the situation, as it has disrupted the supply chains, forced businesses to shut down, and dampened consumer demand.
The European Union’s statistics office, Eurostat, has confirmed that the bloc’s economy contracted by 0.6 percent in the first quarter of this year. This decline marks the first contraction of the European economy in six years. Manufacturing activity and exports have also fallen sharply, and unemployment rates are rising.
Moreover, the energy crisis is compounding the economic woes of the European Union. The energy crisis is being driven by several factors, including the shut down of nuclear plants in France and Belgium, the Russian-Ukrainian gas dispute, and the increasing dependence on oil and gas imports.
The economic impact of the energy crisis is being felt across Europe, as businesses are having to pay higher energy bills, while households are facing rising heating costs. The crisis is also undermining the climate policies of the European Union, as it has led to the increased use of coal, which is a major polluter.
The European Union’s energy crisis is a wake-up call for policymakers and businesses. It highlights the need for greater investment in renewable energy and energy efficiency measures. Moreover, it underscores the importance of diversifying energy sources and reducing dependence on fossil fuels.
The European Union’s worst nightmare has come true, but the current crisis could also provide an opportunity to reshape the future of the European economy. The European Union has an opportunity to invest in new technologies and infrastructure that could drive sustainable economic growth for years to come.
In conclusion, the European Union must act swiftly to mitigate the impact of the recession and the energy crisis. The European Union must create a comprehensive strategy that addresses the root causes of these challenges while laying the foundations for a more resilient and sustainable economy in the future.
It's the way to bring in the wef new currency. Let us have more control and we can fix the economy or they are just stupid
worst? just a beginning …….. EU sanctioned itself. Karma.
The Capitalists know that as long as they can control the World's money supply.,.they can control the World, and the EU and Americans are happy with that.
China and India are a nuisance, but NATO are powerful enough to keep them in their place, especially for the time being.
Thanks to Frau Mafiosa von der Lhyena and Herr Olaf the naff. lol lol . No sympathy for Germany that's for sure.
Oil it is old energy
Einstain forget about fire smoke kills the lungs
Better if EU reverse it's view towards Russia for better future.
Not interested in the EU, only care about the UK
Aww looks like “the garden” is drying up
*Hey guys! Let’s pour more money into Ukraine! And don’t worry about winter cause we have heaters in our house… maybe the people have to struggle for “a while”.*.
-EU leaders
No way out for the recession in the EU. This is all tied in to the War in Eucraine. Especially in this winter.
From Aggression to Recession. Britain.
Printing new money thet is inflarions
So this is a great opportunity for investors to invest in India.
EU works for USA!
Even they have the salary from our tax money
Shame on them.
They better not come crying to Africa
Go WOKE, go BROKE, YOU DESERVE IT.
I hope that the US will profit from its plan to transfer industry from Europe to the US.
The politicians don’t think there is a recession because they will have heating etc .
Ursula van der Leyden is clearly an American mole in the EU. She has 7 children living in California and is married to an American. When she has been sudsed she will go to live in America. She implemented all the sanctions that America required of her