/ world today news/ The economic crisis in Europe has been raging since 2020. It was originally called the corona crisis. Millions of unnecessary people were sent to stay at home and paid benefits. Every individual entrepreneur and self-employed person in Germany received a one-time subsidy of 10,000 euros. 10,000 euros! From the helicopter, so to speak.
Naturally, there was nowhere to get money for this, and the ECB organized the purchase of bonds. After most of the lockdowns and other such heresies were lifted, people rushed to spend the free money and the “recovery” period began.
The “recovery” was, of course, accompanied by inflation. In the fall of 2021, the Americans pushed their liquefied gas theme and began seriously slowing down SP-2. The Kremlin hinted to Gazprom that it would do well to stop supplying gas to the spot market. And since October, the spot from Russia has been stopped.
The effect turned out to be magical: gas from 1.2 US rubles per cubic meter. The record reached 3 and later – 3.8 dollars. But LNG increased its share, while Gazprom reduced it. However, in terms of money in numbers, everything has become much better for Russia than it was.
Instead of the previous 200 dollars, as much as 1000 per thousand cubic meters. At the same time, it turned out that there was not enough oil, and it was impossible to print, like dollars and euros, and the prices for it also rose.
As of the end of February 2022, the crisis has been renamed Ukrainian.
The suspension of the supply of metal and grain and sunflower oil is linked to the increase in the price of gas, oil and fertilizers.
Inflation in a number of EU countries exceeded 10 percent.
The cost of living crisis, as the EU has called it, has arrived. While comparing it to the 70s, someone already said it was worse than under Thatcher. A particularly perceptive hint that it smacks of the 1930s. It is there that the standard of living of ordinary Englishmen and other inhabitants of Europe aspires.
The next step after the increase in the cost of utilities, food and fuel will be the inevitable decline in purchases of things that are not necessary for survival: cars, fashion, furniture, real estate.
Also against the background of the crisis, investments in the enterprises of the real economy will stop. Because why invest if the present is terrible and the future is unclear?
In addition, the EU itself cut off the supply of a number of products to Russia, which obviously will not improve the situation of the local industry.
The same Airbus supplied us with planes, other suppliers – spare parts for the Super Jet 100. All this is money and most importantly – jobs.
Parts for Volkswagen and Renault, Mercedes and BMW were also, by a strange coincidence, made in Europe.
Russian tourists and investors are now enemies and are not welcome in Europe. Accordingly, real estate sellers will lose revenue, banks, hotels and restaurants will lose cash flow.
After closing the branches and representative offices of many European companies in Russia, the expats will go home.
The next inevitable stage will be a massive, unprecedented spike in unemployment. And this even on the condition that Gazprom does not turn off the tap. And if he blocks it, then oh-oh-oh.
For now, I suggest you enjoy the statistics of new car sales in France for the month of March.
Worst data since 1980, excluding 2020 when salons closed
New car sales in France fell to their lowest level in March with 147,079 registrations and excluding the 2020 special, according to data released on Friday by carmakers.
Due to a shortage of electronic chips and in the economic context slowed down by the war in Ukraine, sales fell by 19.5% compared to March 2021, Automotive Platform said in a press release. According to these statistics, which date back to 1980, there were fewer sales only in March 2020 when dealerships were closed due to the pandemic.
Translation: ES
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