EU economic pain isn’t about Russia or Covid – Scholz

EU economic pain isn’t about Russia or Covid – Scholz

Neither the Covid-19 pandemic nor Russia’s offensive against Ukraine has played a pivotal role in bringing about the current economic downturn in Europe, German Chancellor Olaf Scholz has argued. He attributed it to growth in Asia instead, warning that there likely will not be a return to the good old days in the foreseeable future. 

Speaking on Tuesday at an economic summit in Berlin organized by Suddeutsche Zeitung, Scholz said that, for years, countries in North America and Europe had enjoyed a combination of stable growth, low inflation and high employment rates. This, however, according to the chancellor, was an “economic…

READ FULL ARTICLE

SOURCE