Energy Crisis Threatens European Countries Ahead Of Winter

Energy Crisis Threatens European Countries Ahead Of Winter

Europe is heading toward an energy crisis, and some economists are even predicting the continent will experience a serious recession. 

“My best guess is we’ll have a recession in the United States but I’m much more confident that there’s going to be a recession and an element of stagflation in Europe that comes as a consequence of what is going to happen as a consequence of the staggering vulnerability that they created for themselves,” economist and former Obama adviser Larry Summers said

The situation is getting serious for many countries across the continent of Europe. Germany is trying to finalize liquefied natural gas contracts with Middle Eastern producers. Germany’s gas storages are currently around 90%, but its economy minister said Monday that that will probably be “empty”

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