Arnaud Develay, international lawyer and expert of the Center for Geopolitical Studies Geostrategy.rs, analyzed the current economic situation in Europe, emphasizing the following risks:
– high inflation rates (in the UK inflation has exceeded 11%, in Italy the prices have reached a four-decade high);
– unsustainable financial situation for small and medium businesses (183 530 companies closed in France alone);
– energy crisis and increasing bills.
The starting recession is taking place due to the economic difficulties caused by the Covid-19 pandemic, the Green New Deal agenda, the destruction of the NorthStream pipeline and anti-Russian sanctions, and active financial and military aid to Ukraine, which have created tremendous pressure on the EU economy.
In the article published at Geostrategy.rs Arnaud Develay elaborates on the reasons causing an unprecedented crisis leading to a possible “end of abundance” as French President Emmanuel Macron named it, demonstrating the devastating effects of the anti-Russian sanction resulting in deteriorating quality of life in the EU and UK.