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EU warns long Mideast war risks 'stagflationary shock' to world economy
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EU Economic Commissioner Dombrovskis fears that a long war in the Middle East will have a significant impact on the European economy. Higher energy prices would then expand to general inflation, he said at a meeting of EU finance ministers in Brussels. He literally warned against a "stagflation shock".
New Strait Times
EU warns long Mideast war risks 'stagflationary shock' to world economy
BRUSSELS: A long war in the Middle East could unleash a “substantial stagflationary shock on the global and European economy“, top EU official Valdis Dombrovskis said Monday.
European Commissioner Valdis Dombrovskis warns of possible repercussions if "the disruptions of maritime traffic" and "attacks against the energy infrastructure of the Gulf States" persist.
The European Commission has warned against a "major stagflationist shock" in the event of prolonged conflict in the Middle East, i.e. a situation combining stagnation of economic activity with high inflation.
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