Nord Stream pipeline uncertainty leaves Germany and Europe staring down barrel of discontent and recession

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Nord Stream pipeline uncertainty leaves Germany and Europe staring down barrel of discontent and recession
Belgique Dernières Nouvelles,Belgique Actualités
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Confronted by all this uncertainty over Russian gas, Germany, and much of the rest of Europe, is urgently looking for other ways of sourcing energy.

The Russian president is well aware that if he chooses to stop supplying Europe with natural gas, he can cause a lot of pain.

Turning off the gas tap would certainly drive up prices in Germany and beyond, causing economic damage and worsening already tight household finances., would rapidly find itself having to choose between rationing the supply to industry, to households, or simply everyone. The truth is that nobody seems to know what is going to happen. Germany's government seems anxious; neighbouring Austria, which is even more dependent on Russia for its gas supply, appears to be far more relaxed.

And yet just as the EU says that, so a well-placed diplomat, from a major EU country, tells me that he is expecting Nord Stream to be turned back on, but at an even lower capacity than it is running now. "It is a question of how much pain Putin wants to cause us, compared to how much pain he is prepared to absorb himself," according to one diplomat.

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Belgique Dernières Nouvelles, Belgique Actualités

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