this post was submitted on 05 Aug 2024
90 points (95.0% liked)
Europe
1559 readers
172 users here now
News and information from Europe ๐ช๐บ
(Current banner: La Mancha, Spain. Feel free to post submissions for banner images.)
Rules (2024-08-30)
- This is an English-language community. Comments should be in English. Posts can link to non-English news sources when providing a full-text translation in the post description. Automated translations are fine, as long as they don't overly distort the content.
- No links to misinformation or commercial advertising. When you post outdated/historic articles, add the year of publication to the post title. Infographics must include a source and a year of creation; if possible, also provide a link to the source.
- Be kind to each other, and argue in good faith. Don't post direct insults nor disrespectful and condescending comments. Don't troll nor incite hatred. Don't look for novel argumentation strategies at Wikipedia's List of fallacies.
- No bigotry, sexism, racism, antisemitism, dehumanization of minorities, or glorification of National Socialism.
- Be the signal, not the noise: Strive to post insightful comments. Add "/s" when you're being sarcastic (and don't use it to break rule no. 3).
- If you link to paywalled information, please provide also a link to a freely available archived version. Alternatively, try to find a different source.
- Light-hearted content, memes, and posts about your European everyday belong in [email protected]. (They're cool, you should subscribe there too!)
- Don't evade bans. If we notice ban evasion, that will result in a permanent ban for all the accounts we can associate with you.
- No posts linking to speculative reporting about ongoing events with unclear backgrounds. Please wait at least 12 hours. (E.g., do not post breathless reporting on an ongoing terror attack.)
(This list may get expanded when necessary.)
We will use some leeway to decide whether to remove a comment.
If need be, there are also bans: 3 days for lighter offenses, 14 days for bigger offenses, and permanent bans for people who don't show any willingness to participate productively. If we think the ban reason is obvious, we may not specifically write to you.
If you want to protest a removal or ban, feel free to write privately to the mods: @[email protected], @[email protected], or @[email protected].
founded 5 months ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Honestly this is probably not going to hit the EU too badly. The big laggered in the EU is Germany, who can easily spend its money out of a recession. It would be smart to spend the money anyway, so good news. For the rest of Europe we just had a crisis due to Ukraine and that already caused some problems. However it means falling inflation, due to falling energy prices and hence the option to lower rates, which many other regions do not have.
China and the US are in a worse spot though. China trades a lot with Japan and SK, which seem to be the center of this and China is already in trouble due to a massive housing crisis and low local demand. With the export market being closed to China by the US and EU this is a problem.
The US will do a bit better, but there is a massive bubble in tech stocks. It might hurt Elon though, which is great news.
This has a good site for Europe though. The oil price is at $75 for Brent. This is going to hurt the Russian economy badly, which obviously is good for Ukraine and peace is great for Europe in general.
I just read a German article warning that the oil-price could increase, but that a decrease would also be bad...
It seems like after 2008 all we did was pile even more cards on top of the fragile house, to make sure the next collapse will be even bigger.