The closure of gas supplies via Nord Stream shocked Europeans on the eve of winter. About author Wall Street Magazine.
According to the publication, the cessation of fuel supply through the Nord Stream gas pipeline dealt a serious blow to the European economy. Therefore, EU countries urgently started to develop new plans to tackle the energy crisis.
The publication stated that for the first time in 20 years, the euro exchange rate fell below the dollar in parity, and energy prices increased many times.
The authors of the article think that the current situation is only causing inflation to grow further, which in turn has led to a gradual cessation of production in some countries. In addition, the unemployment rate is rising and the purchasing power of Europeans is falling rapidly.
September 10, Bloomberg quotes Goldman Sachs calculations reportedProduction in Germany will fall sharply by 65% due to the lack of gas from the Nord Stream pipeline.
Prior to that, the German newspaper Handelsblatt reported that the sharp rise in prices and the scarcity of energy resources would lead to a fall in Germany’s GDP, a wave of bankruptcies and unemployment in the country.