Get all your news in one place.
100's of premium titles.
One app.
Start reading
Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Economics of War: Pain for Europe Now, Later for Russia

FILE - A cashier changes a 50 Euro banknote with US dollars at an exchange counter in Rome, Wednesday, July 13, 2022. (AP Photo/Gregorio Borgia, File)

Across Europe, signs of distress are multiplying as Russia’s war in Ukraine drags on. Food banks in Italy are feeding more people. German officials are turning down the air conditioning as they prepare plans to ration natural gas and restart coal plants.

A giant utility is asking for a taxpayer bailout, and more may be coming. Dairies wonder how they will pasteurize milk. The euro has sagged to a 20-year low against the dollar, and recession predictions are on the rise, The Associated Press said.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.