EU economics chief says Europe is gripped by a ‘double crisis’ — but it can avoid a recession

Europe is facing a "double crisis" due to the geopolitical impact of Russia's invasion of Ukraine and the subsequent economic hit, but the region can avoid a recession by securing alternative energy supplies and providing relief to consumers facing high energy costs.

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Relevant topic timeline:

8/23/2023

UK on recession alert amid slump in private sector activity

The UK and eurozone economies are at risk of recession due to a significant slowdown in private sector activity, with the UK experiencing its poorest performance since the Covid lockdown and Germany being hit particularly hard; the US is also showing signs of strain, with activity slowing to near-stagnation levels.

9/4/2023

Germany is the 'sick man of Europe' — and it's causing a shift to the right, top economist says

Germany is facing economic challenges and high energy prices, which have led to concerns about its energy strategy and the rise of right-wing parties, potentially impacting Germany's ability to achieve its sustainability goals and causing businesses to move operations to countries with cheaper energy.

9/6/2023

Turmoil looms in the West as oil hits 2023 high

Rising energy prices, driven by factors such as extended production cuts and deteriorating ties between the US and Saudi Arabia, will have negative consequences for Europe, potentially impacting support for Ukraine and slowing down efforts to reduce carbon emissions.

9/11/2023

Germany Only Major EU Economy Expected to Contract in 2023 Amid Energy Transition and Manufacturing Struggles

Germany is predicted to experience a prolonged recession this year, making it the only major European economy to contract in 2023, according to the European Commission, with its growth expectations also being cut for 2024; this is attributed to struggles following Russia's invasion of Ukraine and the need to end energy dependency on Moscow.

9/11/2023

Emerging Economies Face Debt Crisis and Slowing Globalization Despite Leading Global Growth in a VUCA World Dominated by Tech

The global financial crisis of 2008 and subsequent events such as the covid-19 pandemic and the Ukraine war have created a more complex and volatile world, with challenges including a potential debt crisis, shifting growth engines, slowing globalization, new rules for technology, and a volatile and uncertain macro environment.

9/18/2023

France and Germany Clash Over Energy Policy as Nuclear and Prices Divide

A bitter standoff between France and Germany over nuclear energy highlights the disruption caused by the region's energy crisis and the EU's green shift, as both countries seek to avoid being left behind in the race for carbon neutrality while maintaining industrial competitiveness.

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Posted 9/2/2023, 10:14:59 AM

EU economics chief says Europe is gripped by a ‘double crisis’ — but it can avoid a recession

cnbc.com

Relevant topic timeline:

8/23/2023

UK on recession alert amid slump in private sector activity

9/4/2023

Germany is the 'sick man of Europe' — and it's causing a shift to the right, top economist says

9/6/2023

Turmoil looms in the West as oil hits 2023 high

9/11/2023

Germany Only Major EU Economy Expected to Contract in 2023 Amid Energy Transition and Manufacturing Struggles

9/11/2023

Emerging Economies Face Debt Crisis and Slowing Globalization Despite Leading Global Growth in a VUCA World Dominated by Tech

9/18/2023

France and Germany Clash Over Energy Policy as Nuclear and Prices Divide