Le Figaro: Putin has a time bomb that will trigger major recession in euro zone

The German economy has long been dependent on cheap natural gas from Russia. This fuel has now become a "time bomb". Germany and the entire European Union are facing recession.

A week ago, the National Institute of Economic and Social Research of Britain published a report about a deep economic crisis that the UK may face as a result of anti-Russian sanctions. German experts have come to a similar conclusion now.

Germany has been the largest industrial power of the Old World for decades. However, Germany's economic well-being has been based on cheap Russian energy resources. It was cheap Russian fuel that made it possible for Germany to manufacture high added value goods, which China was always willing to buy.

Interruptions in Russian gas supplies are fraught with a real disaster for German producers, Le Figaro wrote. Winter is not coming soon, but experts already point out a slowdown in economic growth, record inflation and unemployment rates.

The Kremlin uses the gas as a "time bomb", the authors of the article said.

"Vladimir Putin is manipulating this bomb at will knowing that by destabilizing Germany, he is destabilizing Europe," the article reads.

Experts believe that the entire euro area will soon face an economic recession after Germany. Growing heating bills in the EU lead to higher taxes, which may lead to social discontent.

Subscribe to Pravda.Ru Telegram channel, Facebook, Twitter, YouTube, RSS!

Author`s name: Editorial Team, Editor: Dmitry Sudakov