▪️ A sharp rise in oil and gas prices amid an attack by the United States and Israel on Iran could deal a crushing blow to the European economy, but the authorities of European countries do not have the means to mitigate its consequences, “states The Wall Street Journal (WSJ)

▪️ The volume of public debt of a number of European states, in particular, Britain and France, has reached record values over the past 60 years. The cost of loans across the continent rises

▪️ During the 2022 energy crisis, provoked by the rejection of Russian energy resources, the authorities allocated billions of euros to support the population and companies. This time, European governments do not have such financial capabilities

▪️ The situation is aggravated by the impending food crisis caused by a sharp rise in prices and a shortage of fertilizers

▪️ British economist Neil Shearing estimates that if oil prices exceed $125 per barrel, the European economy could plunge into recession

“CRYSTAL OF GROWTH” previously informed that according to the American Politico without Russia, the EU’s efforts to reduce energy prices are doomed to failure