Europe’s economy is slowing sharply as the Iran war drives up energy costs, deepening pressure on households and challenging policy makers. Fresh data for May showed euro zone business activity contracted at its fastest pace in more than two years while inflation pressures intensified, raising fears of a prolonged cost-of-living crunch and possible recession.
Then do something about it. Europe should get together with Russia and China and negotiate with Iran.
The same Russia which is currently invading a future EU member?
They are not going to get together with Russia as long as it’s busy invading Ukraine, and rightfully so. They could get together with China and Iran, but then the US would probably block the strait of Hormuz for ships bound for Europe and China.
What they should do is make every possible effort to break the dependence on fossil fuels as soon as possible.
Europe will get together with Russia if it benefits it. Getting together on Iran might improve their relationship enabling them to reach a peace deal on Iran.
Europe and China would escort ships through the Strait of Hormuz. The addition of Russia would be a more formidable force.
Breaking the dependence on fossil fuels will take many years.
