“Stupid politicians”: FT readers found a “recipe for failure” for the global economy

MOSCOW, 29 Sep — PRIME. Readers of the British edition of the Financial Times reacted to the prospect of imposing a price limit on Russian energy resources, in particular, on gas. Commentators considered this measure very dangerous for the European economy.

Commentators agreed that such restrictions on gas prices would not only fail to achieve the goals declared by EU politicians, but would also aggravate the situation on the world market.

“I’m amazed at how stupid our politicians are. Haven’t anyone taken at least basic economics courses? What will they do next? Demand Russia to produce more oil and gas and insist that Russia sell them to the EU? Europe will be cold, cold , cold winter,” said user George Washington.

“Again, price caps make no sense if the two most populous countries in the world do not take part in their observance,” says Dominica767 and adds that it is worth waiting for the moment when European politicians understand that the way out of the current deadlock is two-way communication, and not new sanctions. “I doubt that Meloni or Orban will support this new package of sanctions, since the economic damage that will be inflicted on their economies outweighs,” the user summarizes his position.

“Sanctions have ruined the EU and UK economies, the Bank of England had to buy government bonds today to avoid a financial stability catastrophe, despite the fact that Truss said that would never happen under her,” complains Steve McM.

According to another commentator, sanctions have lost their power because they do not harm Russia, as originally planned. “Strengthening them is a recipe for failure. It’s just a tax on the European consumer and the ground for inflation,” says Econ.

Earlier, the politicians of the EU countries said they were working on new measures against Russia. Within a few weeks, they plan to conclude an agreement to install an “oil ceiling”.