Hungarian Prime Minister Says “Europe Has Run Out of Energy” Amidst Russia Gas Stalemate – Economy Bitcoin News

Europe is suffering and struggling to contain an energy crisis according to various reports that the euro zone may face a cold winter that could lead to energy rationing and blackouts. A recent survey published by the General Confederation of Greek Workers (GSEE) shows that seven out of ten Greeks buy less food to pay for energy and fuel costs. Furthermore, on Saturday, Hungarian Prime Minister Viktor Orban explained in a post on social media that “Europe has run out of energy”.

EU faces ongoing energy crisis: Hungarian Prime Minister blames “green fundamentalists and bureaucrats” for European issues

Rising energy costs have pushed Europe into a favorable economic phase and most of the problems stem from the Ukraine-Russia war. Russia stifled energy supplies to the economic and political union of 27 member countries. Just recently, EU members and G7 finance ministers pledged to impose price limits on electricity and crude oil. Meanwhile, Russian President Vladimir Putin explained on Wednesday that Russia will not supply gas, oil, coal and fuel oil to the West.

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

“The Greek economy and society, after years of austerity, are facing a new wave of price increases and revaluation of basic necessities, and stagnant incomes threaten the purchasing power of many families and social groups”, notes the poll. In addition, 47% of GSEE respondents told researchers they thought a “difficult winter” was coming. One in five Greek individuals said they may not be able to foot the bill this winter when it comes to energy supplies.

Hungarian Prime Minister Viktor Orban has predicted that Europe will face a recession amid the region’s scorching inflation in mid-July. In a Facebook post published on Saturday, Orban insists Europe is running out of energy. The premier accused “the green fundamentalists and bureaucrats” for Europe’s energy issues. “If we want to get to the bottom of the problems, we always end up in the same place: the energy issue”, remarked Orban. The Hungarian premier added:

And the situation is that Europe is running out of energy.

Hungary is a member of the European Union, along with Sweden, Portugal, Romania, Slovakia, Slovenia, Spain, Luxembourg, Malta, the Netherlands, Poland, Austria, Belgium, Bulgaria, Croatia, the Republic of Cyprus, the 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 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 the homeland demands, “Orban said. [won’t] they have a lack of energy. This is not a prediction, this is a factual finding. There will be gas in Hungary and enough electricity ”.

Tag in this story

Bureaucrats, coal, economy, electricity, energy crisis, energy shortage, energy values, EU, Euro, Europe, Europe out of energy, energy crisis in Europe, European Union, finances, gas, gas shortage, market stalemate gas, Greek economy, GSEE, fuel oil, OIL, Prices, Russia, Russian President, Ukraine-Russia War, Viktor Orban, Vladimir Putin

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

Jamie Redman

Jamie Redman is the News Lead of Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News on the disruptive protocols emerging today.




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