Eurozone Self Inflicted Recession and Destruction | Failed Solutions and Failed Leadership

The current recession within the Eurozone states and its causes is the topic of discussion with Harley Schlanger of the Schiller Institute Germany, Paolo Raffone Secretary General Council for Inclusive Capitalism (CIPI ) Foundation and PressTV Spotlight. Some of the Eurozone's self-inflicted causes of its recession discussed are:

1. The reasons for rising prices such as sanctions
2. Decoupling from China and Russia
3. Changes in energy sources
4. The reasons why businesses are leaving member countries
5. The conflict in Ukraine
6. The reasons for a decline in household spending
7. European Union policies

In the first three months of the year, economic output in the Eurozone dropped 0.1% compared with the previous quarter, thus sending it into a recession. The Eurozone's largest economy, Germany is suffering due to impact from conflict in Ukraine. The Eurozone comprises 20 European Union members whose primary currency and sole legal tender is the Euro.

European countries and European Union members that are not part of the Eurozone, are also facing similar concerns listed here as causes of the Eurozone's recession. Due to narrow growth countries like Britain will avoid a recession even though it is experiencing high inflation. Another worry is a potential rise in debt defaults. Predictions are mixed but decline is expected coming months and into next year.

Capitalism cannot function or exist without consumer spending.

**Resources**

Eurozone in Recession
https://www.presstv.ir/Detail/2023/06/08/704951/EUROZONE-IN-RECESSION
_To say that it's only because of the Ukraine war would be premature, but it has certainly contributed to it. In this edition of The Spotlight, our guests shed more light on the issue._ - Spotlight PressTV

#Eurozone, #EuropeanUnion #Recession #Ukraine #Russia #China #UnitedStates #Sanctions #Germany #GreatBritian #inflation #economy #Europe #NATO