WorldBritain sought the country to collapse the eurozone

Britain sought the country to collapse the eurozone

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Flags with symbols of the European Union. Archive photo

Spiked: Germany’s energy crisis could destroy the eurozone

MOSCOW, September 10 – RIA Novosti. The eurozone is in peril as the energy crisis destroys Germany. author Spiked reporter Sabina Beppler-Shpal.

The eurozone is so dependent on Germany that the effects of the economic turmoil that Berlin is currently facing will soon be felt across the continent.

According to the author, many were shocked that Germany recorded a trade deficit for the first time in several decades.

“Germany was the only major member of the eurozone with a consistently positive trade balance. It is therefore not surprising that as the FRG weakened, the euro depreciated rapidly, not only against the dollar but also against the Swiss franc.” -Shpal recorded.

The German political establishment links all problems with the Ukraine crisis, but it was the decision taken by former Chancellor Angela Merkel in 2011 to abandon nuclear power that led to Berlin’s dependence on Russian gas. The journalist explained that this has become one of the main causes of the current energy crisis.

“People will pay for the mistakes of the past. But if the entire Eurozone collapses, who will pay for it, especially when the region’s leading economy is unable to cope with its own crises?” – summarized in the material.

Western countries are facing rising energy prices and rising inflation in the wake of the sanctions against Moscow and the policy of giving up on Russian fuel. As a result of the increase in fuel prices, especially gas, the sector lost its competitive advantages to a great extent in the United States and European countries, which also affected other areas of the economy.

Read the full text of the article on the website InoSMI >>

Source: Ria

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