Recently there has been a shortage of gas supplies and this has cost Germany and Europe billions of dollars. Studies show that extremely high gas prices could lead to de-industrialization in Germany and Europe.
The European Union in the global sense is losing its competitiveness as a production site. In particular, German industry suffered due to the lack of gas supplies.
“Many campaigns that made their production in Europe may soon decide to leave the European market,” says Strategy& Europe CEO Andreas Spene.
Some countries in Europe that are very dependent on oil and gas from Russia, such as Poland, are in a very sad situation. At this point in France and Spain on the production in the price rose slightly. Companies that will be hit hardest by the current EU decisions are likely to move their production outside of Europe.
All this, in the long run, could lead to structural changes in the European industrial landscape or, most likely, to de-industrialization.
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