Hungary’s Prime Minister Says ‘Europe Has Run out of Energy’ Amid Russia’s Gas Standoff – Economics Bitcoin News

According to several reports, Europe is in trouble and trying to control an energy crisis. These reports suggest that the eurozone may have to face a cold winter which could result in energy rationing or blackouts. The General Confederation of Greek Workers published a survey that showed seven out of ten Greeks are less likely to buy food as a way of paying for fuel and energy costs. Moreover, Hungary’s prime minister Viktor Orban explained in a social media post on Saturday that “Europe has run out of energy.”

EU Deals With Ongoing Energy Crisis — Hungary’s Premier Blames ‘Fundamentalist Greens and the Bureaucrats’ for Europe’s Issues

Europe has been pushed into an economic tailwind by rising energy costs. Most of Europe’s problems are due to the Ukraine-Russia conflict. Russia cut off the energy supply to the 27-member countries of the political and economic union. Recenty, G7 and European Union finance ministers vowed to set price limits on oil and electricity. Russian President Vladimir Putin said Wednesday that Russia wouldn’t supply oil, gas, or coal to the West.

The energy crisis is causing Europe to consider energy rationing concepts and reports say Europe’s gas shortages could last until at least 2025. The General Confederation of Greek Workers (GSEE), a survey that was published recently, shows that Greeks are eating less because of rising fuel costs. 20% of the GSEE survey participants said that they spend “much less” on basic food and 51% said they spent “less” on basic food items because of the rising energy prices.

“The Greek economy and society, after years of austerity, are facing a new wave of price increases and revaluation of basic goods, and stagnant incomes threaten the purchasing power of many households and social groups,” the survey notes. Furthermore, 47% of the GSEE survey respondents told the researchers that they thought a “difficult winter” was coming. A fifth of the Greeks who responded to the survey said they were worried about their ability to pay for energy supply costs this winter.

Hungary’s prime minister Viktor Orban predicted Europe would be dealing with a recession amid the region’s red hot inflation in mid-July. Orban posted on Facebook Saturday that Europe is running out of energy. The premier blamed “fundamentalist greens and the bureaucrats” for Europe’s energy issues. “If we want to dig to the bottom of the problems, we always end up in the same place: the question of energy,” Orban remarked. Hungary’s premier added:

The reality is, Europe has run out energy.

Hungary, along with Sweden, Portugal and Slovakia, Slovenia. Spain, Luxembourg. Malta. Netherlands. Poland. Austria. Belgium. Bulgaria. Republic of Cyprus. Czech Republic. Denmark. Estonia. Finland. France. Germany. Greece. Ireland. It. Latvia. Orban said that Hungary, even though Europe is running out of energy resources, will still be fine.

“What can Hungary do in this situation? First of all, I would like to make it clear that Hungary and the Hungarian government will do what is required by the homeland,” Orban said. We [won’t]There will be a shortage in energy. It is not an assumption, it is simply a fact. There will be gas in Hungary and enough electricity.”

In this story, tags
Economics, Bureaucrats, and Coal.

What do you think about Europe’s energy crisis and Viktor Orban’s statements? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been an active member ever since. Since 2011, Redman has been an active member of the cryptocurrency community. Redman is a prolific writer for News, with over 6,000 articles on disruptive protocols.

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