Jakarta, CNBC Indonesia – The deterioration of economic conditions in continental Europe has triggered massive protests and strikes in the region. Workers are demanding higher wages to compensate for sharp increases in energy and food prices.
Thousands of Romanians joined the demonstration in Bucharest to protest against the cost of energy, food and other basic necessities which, according to the organizers, has sent millions of workers into poverty.
In the Czech Republic, a large crowd of flag-wavers in Prague last month called for the resignation of the pro-Western coalition government from the Russian-Ukrainian war. According to the protesters, Russia’s gas embargo policy during the war with Ukraine triggered a sharp rise in energy prices.
Moving to the country near the Czech Republic, thousands of Hungarians, including teachers and students, marched through Budapest on Sunday to protest the government. Despite the security of Russian gas supplies, the protesters nevertheless claimed that Prime Minister (PM) Vikro Orban failed to maintain economic stability.
Meanwhile, a wave of strikes has begun in Western Europe. In France, in recent weeks, unions from oil refineries and the public sector such as transport have started their strikes. This strike depleted the country’s gasoline stocks and disrupted mobilization due to several public transport stops in operation.
Rail workers, nurses, dock workers, lawyers and other professions in Britain have also started a series of strikes in recent months. They are asking for a pay rise to adjust to inflation, which is hitting a four-decade high of 10.1%.
In addition, recent strikes by Lufthansa pilots in Germany and airline and airport workers have disrupted flights.
Moving west, a wave of massive demonstrations was also led by the French trade unions. They are demanding a significant wage increase due to the rising cost of living. Previously, oil refinery workers had done the same thing, causing a fuel crisis in the country.
The analyst of the risk consultancy Verisk Maplecroft, Torbjorn Soltvedt, said this crisis could lead to civil unrest in Europe. The reason is that European leaders strongly support Ukraine and promise or will stop their economy from cheap Russian oil and natural gas.
But the transition from energy sources from Russia is quite difficult. Indeed, the crisis is expected to get worse in the future.
“There is no quick fix for the energy crisis. And if there is, inflation is likely to be worse next year than this year,” he said. EuronewsMonday (10/24/2022).
“This means that the relationship between economic pressure and popular opinion on the war in Ukraine will really be tested,” he added.
So far, the UK is the first European country to experience a change in state leadership due to high inflation. After 45 days in office, Prime Minister (PM) Liz Truss resigned from her post after admitting that she was unable to fulfill the popular mandate to solve the economic problems trapping Britain.
Truss’s failed economic stimulus plan, which resulted in massive tax cuts and tens of billions of pounds in aid for energy bills for households and businesses with no clear plans to pay them, provides a snapshot of the problems the government is facing.
“They have little room for maneuver. So far, the safety advantage has been lighter than usual in October in Europe, which means less demand for gas to heat homes,” says Soltvedt.
“However, if we experience an unexpected disruption of gas supplies from Europe this winter, we could see a further increase in civil unrest, risks and government instability,” he said.
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Notices! European inflation is close to 10%, the highest in history
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