GENERATIONS WILL BE LEFT SCARRED BY WAR HORRORS
Posted on 26th March 2022
Hopes that this obscene war would crash the Russian economy have diminished. For starters Russia has not defaulted on its sovereign debt. Central to all of this is one stark fact. Europe is financing Putin’s war with its purchases of gas, oil and coal. Keep in mind that they have been selling their oil at double the average price over the last 8 years. The chief culprit in this respect is Germany. Sure it would have a negative impact on their economy but they could source liquefied gas from the U.S. and Qatar. Professor Moritz Schularick from Bonn University has said that a halt to all German purchases of oil, gas and coal would cut GDP by 3%. “It could be done and the world wouldn’t end”. The truth of the matter is that this would be the price to pay for ending this war and the savagery and inhumanity it is inflicting on the people of Ukraine. Think of our children forced to drink water from radiators and go wanting for food. Our government must press for tighter sanctions against Russia. Otherwise Putin will have the capacity to prolong this conflict for as long as he wishes. To put this in perspective, as thing stand the U.S. Investment Bank Goldman Sachs are predicting that the Russian economy will grow by 2.4% next year and by 3.4% in 2024.