More European companies go bankrupt, debts soar and shortages grow
Main article written by Ahmed Adel, with added notes, article links and graphics.
The number of business failures in the European Union rose by 3.1% in the second quarter of the year after having increased by 4.5% in the previous quarter. Yet, despite the collective European Union economy being ruined, the bloc insists on self-destructive policies, such as the imposition of anti-Russia sanctions, which has only boomeranged instead of bringing down the Russian economy as was hoped.
According to Eurostat data, in terms of countries, Greece led the increase in business bankruptcies with a rise of 133%, followed by Lithuania (16.7%) and Slovakia (7.6%). At the same time, Italy’s public debt has reached a new all-time high, exceeding €2.9 trillion in June 2024. According to the Bank of Italy, the country’s debt increased by €30.3 billion compared to the previous month, reaching €2.94 trillion.
Evoking the famous phrase from former US President Bill Clinton’s campaign, ‘It’s the economy, stupid,’ a similar logic applies to the EU’s struggling economy: ‘It’s the sanctions, stupid.’ As of August 2, the EU had added up to 19,500 individual and sectoral sanctions on Russia, even though it is beyond doubt that such sanctions had a boomerang effect.
Ukraine’s incursion into Russia’s Kursk Oblast and the tightening of sanctions against the Russian gas industry, coupled with the gas shortage in the EU, have led to a record increase in the price of energy, which has only accelerated the deterioration of the bloc’s economy.
Experts Claim UK/USA behind Nord Stream Attacks – Nordstream supplied Germany with Russian gas. [Germany will eventually side with Russia].
Benjamin Freedman – Versailles: That is where all the trouble started. The United States got in the war. The United States crushed Germany. You know what happened. When the war ended, and the Germans went to Paris for the Paris Peace Conference in 1919 there were 117 Jews there, as a delegation representing the Jews, headed by Bernard Baruch. I was there: I ought to know. Now what happened? The Jews at that peace conference, when they were cutting up Germany and parceling out Europe to all these nations who claimed a right to a certain part of European territory, said, “How about Palestine for us?” And they produced, for the first time to the knowledge of the Germans, this Balfour Declaration. So the Germans, for the first time realized, “Oh, so that was the game! That’s why the United States came into the war.” The Germans for the first time realized that they were defeated, they suffered the terrific reparations that were slapped onto them, because the Zionists wanted Palestine and were determined to get it at any cost.
In this context, Finland’s rejection of Russian timber due to European sanctions led to a sharp decline in the production of wood products, the closure of factories and an increase in prices. For its part, Russia found alternative buyers and significantly expanded its exports of this product.
Meanwhile, Sweden is considering offering migrants, refugees, and even its own citizens money to leave the country. This “voluntary” policy guarantees payments of just $950 per adult from the government to cover the costs of leaving.
See also:
• After shutting down thousands of farms, European governments are warning about a future food crisis as food insecurity worsens
• Europe launches food crisis WAR GAMES simulating an expected global food crisis
Effectively, it is a vicious cycle that is getting out of control, and sooner or later, the whole sanctions regime will need to be dismantled since it is neither for the individual interests of European citizens nor European industry. The EU is becoming the biggest failure of the neoliberal model. Although it will unlikely collapse the bloc, it has exposed that the EU is no longer the economic powerhouse it once was.
Some of their key words – “New World Order”, “progressive” – are echoed today by the supporters of the European Union, the UN and other elements in the globalist and socialist embryo “world order”.
Moscow is not under any illusions about Europe waking up from its inertia, with Russian foreign ministry official Dmitry Birichevsky expressing his belief that Russia will need to navigate through “decades” of economic sanctions from the West.
See also: Who Profits From The Ukraine Crisis? PART 1 – EU Accuses US Of Profiteering From Ukraine Crisis
“This is a story for decades to come. Whatever the developments and results of a peaceful settlement in Ukraine, it is, in fact, only a pretext,” he said on August 16, adding that Russia is working with other long-sanctioned countries like Iran, North Korea, and Venezuela to form an “anti-sanction” coalition.
Rev. 20:8 And shall go out to deceive the nations which are in the four quarters of the earth, Gog and Magog, to gather them together to battle: the number of whom [is] as the sand of the sea (Ezekiel 38 and 39).
Rev. 20:9 And they went up on the breadth of the earth, and compassed the camp of the holy people about, and the Beloved City (Jerusalem): and Fire came down from God out of heaven, and devoured them.
Ezekiel 38 (extract)
Thus says the Lord God; behold I AM against you Gog the prince of Rosh (Russia) Meshech (Moscow) and Tubal (Tobolsk) – the Western and Eastern Capitols of the U.S.S.R. (now called the C.I.S.): I will turn you back (from seeking peace) and put hooks into your jaws (hunger), and I will bring you forth, with all your armed forces and Persia, Ethiopia, Libya, Gomer, Togarmah and ALL the earth with them against My people Israel (Britain and the British Commonwealth; America; Scandinavia; the Netherlands; the Baltic States; Northern France; Northern Spain and the Jews) to the lands of unwalled villages (walls of untempered mortar) without bars or gates (no defences because of defence cuts after the “so-called” peace dividend), when they (the politicians – foolish prophets) say peace, peace and there was NO peace.
See also: Turkey, a strategic NATO ally, applies to join BRICS. “With Brics, Russia will want to show the West that it still has friends and allies in the rest of the world, despite its invasion of Ukraine,” says Dr. Irene Mia, International Institute for Strategic Studies think tank. And The EU Commission is paying attention to BRICS: Expansion of BRICS – “The EU engages with BRICS+ countries individually. For instance, it has strategic partnerships with Brazil, India and South Africa, and is negotiating a free trade agreement with India. On the other hand, current conflicts in Ukraine and Gaza show the divergent approaches to security taken by the EU and BRICS+.”
“The sanctions were first introduced much earlier. Their ultimate goal is unfair competition,” Birichevsky continued.
Despite the sanctions, Russia’s economy continues to grow at an impressive rate. GDP growth was 4% in the second quarter and 4.7% in the first half of 2024. This is astronomically higher than the 0.2% recorded by Germany, Europe’s supposed economic powerhouse, in the first quarter and 0.1% in the second quarter. France’s GDP expanded by only 1.10% in the second quarter, while Spain and Italy recorded only 0.80% and 0.20%, respectively. This highlights how much the EU’s economies struggle when Russia continues to boom despite the sanctions.
See also: Are Russians and Chinese receiving Extra-Terrestrial help?
Even more alarmingly, the Ukrainian invasion of the Kursk Oblast, where the Russian gas transmission station to Europe is located, is the most direct cause of the recent rise in liquefied natural gas prices in the EU. Europe is experiencing delays in LNG deliveries from the Arctic LNG 2 project of the Russian company Novatek due to the tightening of US sanctions on the project. In addition, the growing demand for LNG in China and the Asia-Pacific region is also driving up prices.
The consequences of this price increase will only accelerate the deterioration of the economic situation in the EU. In fact, the ensuing situation will benefit any natural gas producer that can meet demand, including Russia, as long as Ukrainian forces do not destroy the gas transit point in the Kursk region and if Novatek can supply some LNG soon.
In effect, as the EU’s economy continues to struggle, more businesses will close their doors as their political leaders continue masochistic anti-Russia sanctions that have not only boomeranged but also forced Russia to restructure its economy to be more self-sufficient and open to non-Western countries.
Source: Veteran’s Today – More European companies go bankrupt, debts soar and shortages grow (21 August 2024)
The more you tighten your grip, the more star systems will slip through your fingers.
The Resurrection of Nazi Germany – “A whistleblower in the German secret services made information available to Fuellmich’s attorney that the German secret service was tasked with stopping Dr. Fuellmich at all costs and in every possible manner. The leaked document revealed that the plan was to place police agents among his collaborators who would bring false testimony against him.”