GT: Energy crisis will lead to unrest and the overthrow of governments in Europe

GT: Energy crisis will lead to unrest and the overthrow of governments in Europe

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 meltdown is great, because in the same UK, according to scientists and meteorologists, around 65.8% of homes will face the fact that they don't; don't have enough gas for heating. Already, Britons are having to choose between food and electricity, writes the columnist.

Blacklock points to the huge rise in prices of goods and services that has taken place due to the worldwide increase in fuel prices. And the people can take extreme measures to express their displeasure, he believes.

For example, in the UK, activists are calling for a boycott of electricity bills and unions are planning a series of rallies demanding higher wages and lower food prices.

Furthermore, strikes have taken place in four countries, including France, Belgium, Spain and the UK, where civil servants have demanded higher wages for those who cannot keep up with inflation.

“There is already plenty of evidence of this simmering discontent.”, 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 resembles that which previously came from Bolivia, and inflationary growth is accompanied by rationing of resource consumption by the authorities.

He cited the example of Germany, where businesses are closing due to high electricity bills. 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, EU consumption was 400 billion cubic meters of gas per year, of which 100 billion was received by consumers, 167 billion & # 8211; industrial companies, the rest went to the energy sector. Russia supplied about 50% of this volume.

To reduce the stress level, 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 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 was out of order and that Western sanctions prevented the repair of Siemens units.

Earlier, Topnews wrote that InoSMI named the perpetrators of the crisis in Europe, and this is not Russia.


Leave a Reply

Your email address will not be published. Required fields are marked *