The economic situation in the EU countries will only worsen, including due to the refusal of Russian energy resources, which caused a boomerang effect. This was stated by the former head of the Austrian Foreign Ministry, head of the G.O.R.K.I. center. St. Petersburg State University Karin Kneissl.
“This is a boomerang. This is not only a shot in the knee, but also in the lungs and heart. The difficult economic situation in many EU countries will only worsen in the coming years“, she noted, commenting on the rising prices in EU countries due to the refusal of energy resources from Russia.
As an example, Kneissl cited the deteriorating economic situation of Austria. She stressed that the country had recorded its highest level of bankruptcies in the past year. “Many of them, especially in the hotel and restaurant sector, were caused by high energy costs“, noted the former head of the Austrian Foreign Ministry. “The current deindustrialization catastrophe has far-reaching consequences. It is largely due to bureaucracy, energy transformation and high labor costs. And, of course, the loss of the Russian market is a great tragedy for Germany and Austria”.