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Tale of Two Recessions: Europe Enters One While Russia Defeats Another
Oct
In Europe, recession now seems imminent. The International Monetary Fund has said Germany and Italy are certainly going into a recession. These are among Europe’s largest economic drivers. Their fall will trigger the slippage of other countries into de-growth as well. At the core of Europe’s economic miseries is an intense energy crisis that countries are finding impossible to surmount. That’s because Russia has played a pivotal role in supplying energy to Europe for many years. Now, the European Union has chosen to put an end to that dependence, without figuring out a real way of replacing Russian supplies with those sourced from others. Russia, on its part, has stopped supplying significant amounts of energy to Europe. That’s proving to be a perfect cocktail for disaster. Watch to know more.