The euro area’s economy has now registered two consecutive quarters of contraction
The Eurozone's economy contracted in the first quarter of 2023, the statistics agency Eurostat revealed on Thursday. This marks the second consecutive quarter of contraction, thus meeting the technical definition of a recession.
The announcement came following a downward revision of growth in the 20 countries that use the euro as their currency for the last quarter of 2022 and first quarter of this year.
Gross domestic product (GDP) in the Eurozone shrank by 0.1% between January and March, compared to the fourth quarter of 2022, Eurostat said in a statement.
The agency attributed the downturn to a slump in both government and household spending and to revised data from Germany, which showed that the Eurozone’s largest economy slid into a recession at the beginning of the year.
Household consumption in the euro area dropped by 0.3% in the first quarter, highlighting the pressures that consumers are facing amid soaring prices, the report said.
“We expect growth to resume from 2Q23, but stay subdued through 2023, as headwinds from tighter financing conditions and faltering global demand keep a lid on activity,” Bloomberg’s Maeva Cousin and David Powell noted. .....more below
https://www.rt.com/business/577713-eurozone-enters-recession/
All warfare is based on deception. Hence, when able to attack, we must seem unable; when using our forces, we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near. Sun Tzu, The Art of War
The Empire of Chaos is relentless. Lawfare, destabilizations, sanctions, kidnappings, color revolutions, false flags, annexations: 2025 will be the year of BRICS – plus BRICS partners – as choice targets under fire.
Inestimable Prof. Michael Hudson coined “chaos” as official US policy. That’s bipartisan – and it runs across all silos of the Deep State.
In the absence of long-term strategic vision, and amidst the progressive imperial expulsion from Eurasia, all that’s left for the Hegemon is to unleash chaos from West Asia to Europe and parts of Latin America – a concerted attempt to Divide and Rule BRICS and thwart their collective drive affirming sovereignty and the primacy of national ...
While NATO may be yearning to take on Russia in the Arctic, many of its troops lack the necessary expertise for survival in such extreme conditions.
Although NATO forces regularly participate in drills in the region, many remain unprepared for the harsh realities of Arctic life.
Though NATO forces routinely participate in the bloc’s drills in the region, many of them are still not prepared to survive in the Arctic’s harsh conditions, The Sun reports citing Minna Alander, a researcher at the Finnish Institute of International Affairs.
"Not all NATO allies have the capabilities that are needed and that work in the Arctic environment and climate,” Alander said.....more below
