Hungary’s Prime Minister Says ‘Europe Has Run out of Energy’ Amid Russia’s Gas Standoff

Europe is suffering and struggling to contain an energy crisis according to various reports that say the eurozone might have to deal with a cold winter that could lead to energy rationing and blackouts. A recent survey published by the General Confederation of Greek Workers (GSEE) shows seven out of ten Greeks purchase less food in order to pay for energy costs and fuel. Moreover, Hungary’s prime minister Viktor Orban explained in a social media post on Saturday that “Europe has run out of energy.”

EU Deals With Ongoing Energy Crisis — Hungary’s Premier Blames ‘Fundamentalist Greens and the Bureaucrats’ for Europe’s Issues

Rising energy costs have propelled Europe into an economic tailwind and most of the problems stem from the Ukraine-Russia war. Russia has choked off energy supplies to the economic and political union that consists of 27 member countries. Just recently, members of the European Union and G7 finance ministers pledged to enforce price caps on electricity and crude oil. Meanwhile, Russian president Vladimir Putin explained on Wednesday that Russia would not supply gas, oil, coal, and heating oil to the West.

The energy crisis is causing Europe to consider energy rationing concepts and reports say Europe’s gas shortages could last until at least 2025. Furthermore, a recent survey published by the General Confederation of Greek Workers (GSEE) indicates that Greeks are spending less on food because of rising energy costs. 20% of the GSEE survey participants said that they spend “much less” on basic food and 51% said they spent “less” on basic food items because of the rising energy prices.

“The Greek economy and society, after years of austerity, are facing a new wave of price increases and revaluation of basic goods, and stagnant incomes threaten the purchasing power of many households and social groups,” the survey notes. Furthermore, 47% of the GSEE survey respondents told the researchers that they thought a “difficult winter” was coming. One individual out of every five Greek respondents explained that this winter they might not be able to foot the bill when it comes to energy supplies.

Hungary’s prime minister Viktor Orban predicted Europe would be dealing with a recession amid the region’s red hot inflation in mid-July. In a Facebook post published on Saturday, Orban insists Europe has run dry of energy. The premier blamed “fundamentalist greens and the bureaucrats” for Europe’s energy issues. “If we want to dig to the bottom of the problems, we always end up in the same place: the question of energy,” Orban remarked. Hungary’s premier added:

And the situation is that Europe has run out of energy.

Hungary is a member of the European Union, alongside Sweden, Portugal, Romania, Slovakia, Slovenia, Spain, Luxembourg, Malta, Netherlands, Poland, Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, and Lithuania. Orban stressed that despite Europe running out of energy, Hungary will be just fine.

“What can Hungary do in this situation? First of all, I would like to make it clear that Hungary and the Hungarian government will do what is required by the homeland,” Orban said. We [won’t] have a shortage of energy. This is not a prediction, this is a statement of fact. There will be gas in Hungary and enough electricity.”

What do you think about Europe’s energy crisis and Viktor Orban’s statements? Let us know what you think about this subject in the comments section below.

Related Posts

What is PoW Ethereum (ETHW), and how does it work?

PoW Ethereum or ETHW is a forked version of the Ethereum blockchain created by a Chinese miner after the Merge of the execution and consensus layers. Ethereum…

Grayscale Bitcoin Trust terminates material agreements with Genesis

Genesis will no longer be involved in GBTC’s main operations, but will still act as a liquidity provider. According to a recent filing with the U.S. Securities…

Bitcoin Magazine Partners With IBEX As Payment Sponsor For Bitcoin Conferences

IBEX will be the official payments sponsor for Bitcoin Amsterdam and Bitcoin 2023 enabling attendees to transact in bitcoin on and off-chain using Lightning. Bitcoin Magazine has…

VeeFriends x Macy’s x Toys“R”Us Launch Exclusive Physical Collectibles

Gary Vee’s VeeFriends has teamed up with Macy’s and Toys“R”Us to launch new limited edition collectible characters. The exclusive collection will be available on pre-sale starting today,…

Biggest Movers: MATIC Hits 3-Week High, LINK up Almost 10%

Polygon raced to a three-week high during today’s session, as bullish sentiment returned to cryptocurrency markets. Chainlink was also in the green, as the token surged for…

This Breakout Coin Is About to Jump 7,000% More Than BTC and SHIB

Prices for all types of coins, from established names to up-and-comers, have fallen in recent months, and the crypto bear trend seems set to continue through the…

Generated by Feedzy