We look at how the Ukraine war is contributing to an energy crisis across Europe with Greek politician and economist Yanis Varoufakis. Last week Russia announced it would not resume sending natural gas to Europe via the Nord Stream 1 pipeline, blaming Western sanctions for supposed maintenance delays keeping the gas shut off. Prior to the war, Russia supplied Europe with 40% of its natural gas, but now European nations must find ways to cope with fuel shortages and soaring energy prices as winter approaches. Varoufakis says a history of market liberalization and reliance on cheap Russian gas has left the continent scrambling, in turn pushing up energy costs in the Global South as richer European countries buy up other sources of energy. “Yet again, Europe is exporting misery to the rest of the world,” says Varoufakis, a member of the Greek Parliament and former finance minister.
Related Articles

Economics
Bernie Sanders: “Open borders? That’s a Koch brothers proposal”
May 13, 2018
Mathew D. Rose
Economics, EU politics, Finance, Globalisation, Inequality, National Politics
0
This is a similar to what Colin Hines has been saying (here and here) for which he has been viciously attacked in the UK. This is a couple of years old. For the rest of […]

Economics
MMT Podcast: Warren Mosler – The MMT Money Story (part 1)
The nice thing about Warren Mosler is that his explanations are simple to follow. Great for learning about MMT. Listen here

Austerity
Euro Intelligence – On the next German chancellor
January 16, 2021
Mathew D. Rose
Austerity, Climate Crisis, Economics, EU-Institutions, Finance, National Politics, Neo-Liberalism in the EU, Sustainability
0
The Eurointelligence team discusses Armin Laschet’s victory and a variety of confusing political crises. Listen here
Be the first to comment