Protests are starting all across Europe due to rising energy costs, and this is probably just the tip of the iceberg as leaders all across Europe are warning that a total economic collapse may be imminent, as they prepare for massive social unrest in the weeks ahead.
Belgium Prime Minister Alexander De Croo is one of the latest leaders to sound the warning, as he stated in an interview with Bloomberg News:Protests Start in Europe as Belgium Prime Minister Warns that the European Economy will Come to “Full Stop” in a “Few Weeks” – Vaccine Impact
A few weeks like this and the European economy will just go into a full stop. Recovering from that is going to be much more complicated than intervening in gas markets today.
The risk of that is de-industrialization and severe risk of fundamental social unrest.
I honestly do not see any other choice than doing market interventions. We don’t get a second chance to prove as 450 million Europeans that we take things in our hands. What you are seeing today is a massive drainage of prosperity out of the European Union.