Europe is desperately fighting the dangerous prospect of a major gas shortage heading into the frigid winter months as fears soar that Vladimir Putin will cut off supplies to the continent entirely. The European Union has accused Russia of resorting to energy blackmail and said the move is “politically motivated”, with gas supplies flowing through the huge Nord Stream 1 pipeline from Russia to Europe plummeting in only a fifth of its capacity.
Eurozone inflation rose again to 8.9 percent in July, compared with 8.6 percent in June and 8.1 percent in May, while earlier this month, the struggling euro reached parity against the US dollar for the first time in more than 20 years.
EU critic and Frexiteer Eric Noirez launched a furious attack on the EU, claiming the euro has become a “trap that is now closing in on us”.
He told Express.co.uk: “The EU has inevitably shot itself in the foot: it abandoned its principles and its own rules designed to maintain economic stability in a frenzied and suicidal rush that has led to today’s crisis of the euro we are experimenting with.
“Where common sense and pragmatism should have led to stopping the aberration that is the Euro, Eurofanatics preferred to persist in their error and keep the Euro alive at all costs.
“From a false good idea, the euro has become a trap that is now closing in on us.
“In reality, the question regarding the euro is not whether this currency will explode or not.
“The euro will explode because the problems it poses are insoluble and because the crisis for which it is primarily responsible, as well as the divergences it creates between nations, will become too strong for it not to explode.
“It’s a simple logic: the euro exploded the debt, and now the debt will explode the euro.
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The EU critic also warned that the euro is a system that has “reached the end” but that this is “not very surprising”.
He explained: “The situation in the Eurozone is dramatic, not to say desperate: record inflation, record trade deficit, record national debt, continued deindustrialisation, still half-assed growth and, finally, a growing loss of investor and stakeholder confidence economical..
“And it must be said that there is nothing on the horizon that can improve the situation.
“In fact, the euro is a system that has reached the end, but this is not at all strange, since the euro has always been a totally dysfunctional monetary system, which the Europeanists have wanted to keep alive at all costs, through of a truly irrational dogmatism.
“Today, the people who make up the EU are simply about to pay the price for this political choice, which carried the seeds of disaster within them.”
Generation Frexit chairman Charles-Henri Gallois claimed it was a “mistake to save the euro” and that the single currency “will die sooner or later”.
He said that Europe’s brutal sanctions on Russia in response to the Ukraine war are hurting Europe more and warned that if the situation does not change, “Europe will face perhaps the biggest financial crisis of the his story.”
He told Express.co.uk: “It was a mistake to save the euro. The euro was badly built from the start and it will die sooner or later.
“So, I know the position is not widely shared in the UK, but I think sanctions against Russia are suicide for Europe.
“Economic sanctions that hit you harder than Russia are totally stupid. I’m against the invasion of Ukraine, but we should stop the sanctions and focus on peace to prevent Europe from committing suicide.
“If we don’t, Europe will face perhaps the biggest financial crisis in its history.”
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