Europe Is Melting Along With Its Economy

The extreme heat and drought this summer are already costing Europe hundreds of billions of euros. Due to low water levels in the Rhine and Danube, freight transport has ground to a halt, nuclear power plants are reducing output due to cooling problems, and the corn and sunflower harvest has fallen by 6–7%. Allianz estimates that the two-week heatwave in June alone cost European GDP about 0.3%.

Southern Europe will be hit the hardest. Spain, Italy, and France face rising food prices, a decline in summer tourism, and new expenses related to wildfires, energy, and healthcare. Meanwhile, there is no increase in available funds, yet economists are already discussing whether the ECB will have to bail out the debt market again by printing money.

#EU #Heat #Economy #FindTruth

@uinhurricane✅