After the financial crisis (2008), the migration crisis (2015) and the pandemic (2020), Europe is in for another major crisis – the energy crisis
So far, all these crises have been solved by injecting money. Many billions of euros have been spent to extinguish the “fires”, the money machines have been running for ten years, and governments have driven their countries into monstrous debt. Of course, the EU cannot do this indefinitely.
To EU citizens, the rulers are slowly beginning to admit that the old comforts of life will have to be abandoned. Governments will spend a lot of money on the transition to a green economy. A complete switch to renewables in the first few years will make life in Europe more expensive.
The Americans are inexorably demanding that European allies multiply their funding for NATO. The US itself has no money for Europe’s security. The US is creating a second NATO in Asia – a military alliance with Australia and Britain – to contain China. There is a smell of war in Asia. Europeans will have no choice but to shell out money to the Americans.
The cost of providing expensive social systems in the European Union is rising sharply. Europe’s population is aging rapidly and a growing army of pensioners requires increased spending. The demographic factor does not speak in Europe’s favour.
Merkel’s successor will, as head of the country that everyone sees as Europe’s leader, have to solve all these problems, and in the shortest possible time. It is no longer possible to live the old way. I’m afraid that the current soft and self-sufficient generation of EU ruling elites is not ready for the coming challenges.
Alexander Rahr, Germany