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Iran war squeezes Europe’s economy as growth slumps, prices surge (www.france24.com)

submitted 1 week ago by throws_lemy@reddthat.com to c/world@lemmy.world

14 comments fedilink hide all child comments

Europe’s economy is slowing sharply as the Iran war drives up energy costs, deepening pressure on households and challenging policy makers. Fresh data for May showed euro zone business activity contracted at its fastest pace in more than two years while inflation pressures intensified, raising fears of a prolonged cost-of-living crunch and possible recession.

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[–] trxxruraxvr@lemmy.world 2 points 1 week ago* (last edited 1 week ago) (1 children)

I'm not saying we can break our reliance on fossil fuel in short term, just saying that we should work towards it. Cooperating with Russia is also not feasible in the short term, so that just leaves iran and china. The question is if that can be enough.

Whether it is or not, we should start subsidizing circular agriculture anyway, because fossil fuels are limited and going to run out in any case. Europe should try to be independent of the rest of the world before that happens. This does mean that more people will have to work in food production, but we also need new technologies for reliable susta8 good production.

We can still do with more solar and wind power, but we'll also need to invest heavily in long term energy storage. In the end that will be much better than nuclear energy which will only prolong our dependency on fuels from unstable dictatorships.

[–] mirshafie@europe.pub 2 points 1 week ago

China can't offer us fertilizer or gas. For Europe, that comes out from Russia, Belarus or the Middle East. Among these, I'd pick the Middle East, but that's going to put us on a collision course with the United States and Israel. Which I think is overdue, but we shouldn't underestimate it or gloss it over.

I'm not saying we can't do more with solar and wind, but I'd much rather see solar and wind in Africa rather than Europe. Global warming is global. Half of all jet fuel is used for cooking. The obvious fix is to provide solar panels to rural communities, rather than install them onto brick house rooftops in European suburbs.

But overall, I agree. We need diverse energy sources, and we absolutely should do more on sustainable agriculture. Having a slightly larger proportion of the work force in agriculture is absolutely fine.