In Britain, they called a country that will bring down the eurozone very soon

MOSCOW, 10 Sep — PRIME. The eurozone has found itself in a precarious position due to the fact that Germany is more and more bogged down in the swamp of the energy crisis, writes Spiked columnist Sabina Beppler-Shpal.

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She warned that the eurozone is dangerously dependent on Germany, and therefore the consequences of the economic turmoil that Berlin is facing today will very soon be felt across the continent.”

The journalist noted that many were shocked by the fact that Germany for the first time in decades recorded a trade deficit.

“Germany was the only major member of the eurozone with a consistently positive trade balance. Therefore, it is not surprising that as the FRG weakens, the euro is rapidly losing value not only against the dollar, but even against the Swiss franc,” Beppler-Shpal explained.

The German authorities are trying to blame the Ukrainian crisis for all the problems, but this is not entirely true, the observer writes. After all, it was the decision to abandon nuclear energy, taken by former Chancellor Angela Merkel in 2011, that led to Berlin’s increased dependence on Russian gas. This has become one of the main reasons for the current energy crisis, the journalist stated.

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“People will pay the price for past mistakes. But who will pay if the entire eurozone collapses, especially when the region’s leading economy is unable to cope with its own crises?” summed up Beppler-Shpal.

Western countries are faced with rising energy prices and a surge in inflation after the imposition of sanctions against Moscow and the policy of abandoning Russian fuel. As a result of the rise in fuel prices, primarily gas, the industry in the United States and European countries has largely lost its competitive advantages, which has also affected other areas of the economy.


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