It’s the summer calm before the winter storm in Europe

France and Germany, the engines of European policymaking, are showing signs of slowdown.

Enrico Letta, Italy’s former prime minister and head of the center-left coalition in Mario Draghi’s unity government, tells me that the European Union response today risks looking like the financial crisis a decade ago: tardy and inadequate

Piecemeal measures like household subsidies, windfall taxes and market exemptions haven't given Putin sleepless nights. Attempts to relaunch Covid-era stimulus initiatives involving joint EU borrowing have stumbled as familiar North-South rifts return.

Lionel Laurent Bloomberg 5 juli 2022

https://www.bloomberg.com/opinion/articles/2022-07-05/a-euro-warning-worth-heeding-from-italy-on-energy


Natural Gas Soars 700%, Becoming Driving Force in the New Cold War

Shortages of the fuel are rippling throughout the global economy, threatening recessions and a further wave of inflation. 

https://www.bloomberg.com/news/articles/2022-07-05/the-global-energy-crisis-just-got-even-worse-here-s-why

 

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