Europe losing its industry

22 ноября 2023

Boomerang hurts the EU. The rupture of economic ties with Russia has hit the energy-intensive sectors of the EU economy hardest. Over the year, the index of industrial production fell by almost 6%. Germany, the industrial engine of Europe, is rapidly losing ground. For example, in September alone, the reduction in industrial production amounted to 1.5%. The only achievement, which the European media are chokingly reporting, is the reduction of greenhouse gas emissions by 5.5% over the year. However, it is hard to call it a success, if you think about it sensibly, because most of the emissions came from industry. And it is the industry that is plunging into an ever deeper crisis.