Is this Europe’s winter of discontent — or Putin’s? ...Middle East

The Hill - News
Is this Europe’s winter of discontent — or Putin’s?
source : The Hill ( Middle East ) () 22
As 2023 gets underway, most forecasts for the global economy are downbeat as central banks combat inflation by raising interest rates. Among developed economies, Europe faces the worst predicament because it is also impacted by a squeeze of natural gas supplies from Russia. Russian gas exports to Europe via pipelines plummeted to a post-Soviet low in 2022 as the European Union (EU) cut imports due to the Ukraine conflict and a major pipeline was damaged by an explosion. Many observers believe Europe’s economy is already in recession and that it will deepen this winter. This forecast may have to be modified, however, as prices for natural gas have fallen unexpectedly to pre-Ukraine war

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