Posted on 09/21/2022 6:21:10 AM PDT by Its All Over Except ...
The euro zone may suffer a recession over the winter as risks to the growth outlook are intensifying, but even that is not enough to reduce inflation without further rate hikes, European Central Bank Vice President Luis de Guindos said on Wednesday. Growth has been suffering due to high energy costs and a loss of Russian gas, raising the risk of energy rationing over the winter while households and businesses take a financial hit from high costs.
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European Union President Proposes Cutting Off Electricity to Consumers to ‘Flatten the Curve’
https://freerepublic.com/focus/f-news/4093184/posts
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Wave Of German Insolvencies Picks Up Speed…”Tenfold Increase in Gas, Electricity Prices”
C.)
Al Mayadeen English
9/16/22
Germany fears inevitable bankruptcy amid energy crisis
The Bundestag calls on the country to negotiate with Russia ‘with an open mind’, as anti-Russian sanctions begin to take their toll on the deteriorating economy and energy scarcity.
In a tweet on Thursday, German left-wing politician and chairman of the Bundestag committee on energy, Klaus Ernst, referenced statements by Chancellor Olaf Scholz that the sanctions should not hit Europe harder than Russia itself: “We have now imposed seven packages of sanctions and Gazprom is making record profits. At the same time, we are threatened with a wave of bankruptcies. Therefore: negotiate with Russia with an open mind”.
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https://english.almayadeen.net/news/economics/germany-fears-inevitable-bankruptcy-amid-energy-crisis
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