The difficult equation of energy and electoral pressures in the green continent.
In less than five years, Europe once again faced a severe crisis in the energy market. The almost 200% jump in gas prices since February, the increase in electricity and fuel prices and the disruption in global energy supply have put a lot of pressure on industries and households in Europe. Now, even a German plant with a history of 182 years has been forced to close due to the soaring cost of gas.
America's war against Iran and the disruption of shipping through the Strait of Hormuz exposed Europe's vulnerability to energy shocks. The gas reserves on this continent have also reached an alarming level, and in pessimistic scenarios, Germany's reserves may be depleted almost by the end of winter. Possible cold weather and the competition between Asia and Europe for the purchase of liquefied natural gas could complicate the situation.
But the crisis is not only economic; The high cost of energy has become a political and electoral issue. From the truck drivers' strike in Italy to the discontent of the people in France and Germany, the pressure on European governments has increased and both the extreme right and left parties are taking advantage of this situation to criticize the governments. Meanwhile, governments are caught between supporting the public and preventing further increases in public debt.
On the other hand, Europe is forced to compensate for the deficit in supply from world markets by banning the import of Russian liquefied gas from the beginning of next year; This is also in a situation where dependence on American energy has also created new concerns. Now the serious question is whether Europe will be able to survive the coming winter, or will the energy crisis this time lead to the closing of more factories, the intensification of inflation and a new wave of political unrest?
Details of the report on the World Economy website.
The official channel of Donya Akhtaz newspaper.