What are Europe’s chances of dealing with a gas shortage? – Click

What would suspending Russian gas imports mean for European economies? This is an issue that creates a great deal of diversity among economists. Everyone agrees that the consequences will be negative, but the question is how much? The outlook is mixed, ranging from a mild recession to a catastrophic economic crisis and mass unemployment.

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For the most part, intellectual energy is being actively spent on understanding the extent of potential GDP contraction, but less is being said about how to prepare for the end of Russia’s gas flows if Russia decides to cut off gas to the whole of Europe (as it has done so far with Poland and Bulgaria). . In reality, however, it is clear that predicting the consequences of such a move by Russia is the same as predicting the devastation caused by a hurricane instead of preparing for it.

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