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The EU is on a path of self-destruction and as the sanctions on Russia start to rebound it will only accelerate this demise. While interest rates everywhere else have at least nominally risen, the EU remains the same and QE is continuing, but it’s no secret that Brussel's budget will have to be slashed and consequently a reduction of funds in the EU Fund. Croatia is already crying over this prospect.
So, what can Serbia expect from the EU? If Russian oil is sanctioned the EU is dead and will hasten the de-industrialisation of Germany and thus slip into a backwater so what does Germany or the EU have to offer? Poverty? Look at what’s happening now; Estonia has declared its inflation is 18% - the other Baltic states are no better.
Germany inflation is well into double digits now. The Bank of England stated that the UK inflation will reach 10% by the end of the year, but we all know that its past that figure now.
Its going to get a lot worse before better. The weird part is that the EU, led by Germany, have bet their entire economic futures on breaking Russia by September 2022. Let just say that the Ruble pre-war was 77 to 80 to the US$. Today its 65.
You work it out if Russia will collapse by September. I’d say no but when you have brilliance like Ursula von der Leyen, who knows she has stuffed up everything she touches and perhaps she is on a winner this time ha,ha,ha.
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