Euro-Area Would Barely Grow If Russian Gas Is Cut Off, EU Says

Growth is going to be one of the lesser concerns for Europe for decades to come. We face demographic collapse, we have to deal with the debt mess we made for the last half a century, we have to deal with awful competitiveness and overregulation, our energy landscape is a mess and we need to rebuild our regional supply chains that have gone missing. If Europe suffers only mild contraction it will be rather well off. And this is not going to be over very fast. It will be painful, and after 20 to 30 years nothing will be the same anymore.

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