LAST UPDATE: 12:48 By Tasos Dasopoulos In a significant upward revision of growth, which is expected to reach 4% this year, but also of annual inflation, which is expected to reach 8.9%, the Commission advanced its estimates for Greece in the context of the summer forecasts it published a while ago. Two months earlier, in […]
Tag: energy crisis
Drought nature’s ‘gift’ to Putin and his energy war
By Javier Blas Europe has been plagued by a heat wave that has driven temperatures above 40 degrees Celsius in many countries. As households and businesses use their air conditioners, demand for electricity has skyrocketed and wholesale electricity prices have skyrocketed. But far more worrying – and far less talked about – is the drought […]
The Commission lowers the growth bar
By Tasos Dasopoulos Growth of over 3% and inflation of over 7% will be forecast for Greece, the summer forecasts of the Commission which will be published tomorrow, Thursday, in a climate of uncertainty about Europe’s energy sufficiency in the coming months. In the big picture, the projections will not take into account the scenario […]
Emergency package of measures from the EU to counter the Russian shutdown
The European Union is planning a series of mandatory actions across the economy – including reductions in heating and cooling use and some market measures – to mitigate the effects of a potential cut in gas supplies from Russia. The Commission sees a great risk of Moscow cutting off natural gas flows, according to a […]
Attica Bank: Escalating energy crisis, strong dynamics in tourism
Expectations for a recovery in advanced economies are deteriorating as geopolitical instability lingers and inflation looks set to last longer than initially expected, according to the June 2022 Attica Economic Review. In the monthly report of Attica Bank prepared in collaboration with IOBE entitled “The energy crisis is escalating, strong dynamics in tourism, amid volatility […]
Waiting for the moment of truth for Nord Stream
Berlin is having second thoughts about prioritizing energy supply if the pipeline is shut down. Germany-Finland dispute over Uniper’s rescue model. There is an important meeting on Olaf Scholz’s daily schedule. This is the president of the Association of German Manufacturers, Siegfried Roosbuhrm, whom he had recently met in the framework of the Industry Day […]
Biden Middle East Tour
The US president is criticized for his trip to the Middle East. On the campaign trail he promised to declare the Saudi crown prince undesirable – now he’s upgrading him. The street in front of the Saudi embassy in Washington was recently renamed: “Jamal Khashoggi Street”. It was no coincidence that the self-government of the […]
The need to limit energy dependence was emphasized by the German Chancellor and the Slovenian Prime Minister
The need to “do everything” in order to limit energy dependence was highlighted by Chancellor Olaf Solz after his meeting with the Prime Minister of Slovenia, Robert Golob, and referred to the promotion of renewable sources. His interlocutor said that the goal of a winter without Russian gas “is ambitious but achievable” if there is […]
Birol (IEA): Global energy crisis may worsen – Perhaps we have not seen the worst yet
According to the head of the International Energy Agency (IEA), the global tight energy supply that has caused catastrophic shortages and sent electricity and fuel prices soaring may worsen, Bloomberg reported. “The world has never witnessed an energy crisis of this magnitude in terms of its depth and complexity,” IEA executive director Fatih Birol told […]
Hellenic Fiscal Council: Forecasts growth of over 3% this year but also risks
By Tasos Dasopoulos The forecast for growth of over 3% for this year is made in its spring report on the economy by the Hellenic Fiscal Council, although it warns of fiscal risks from the energy crisis and the ongoing war in Ukraine. With regard to the growth of the economy, it is emphasized that […]
