Comment: Europe cannot defeat an adversary ready to endure a 20% drop in national income if it is not willing to risk a 2% decline in its own | Business Post

‘In the case of Germany, a widely cited paper by Rüdiger Bachmann and others puts the overall cost of an abrupt stop to Russian energy imports at between 0.5% and 3% of GDP. Results for the EU as a whole appear to be similar.’ Picture: Getty

In 2003, the conservative US pundit Robert Kagan famously wrote that Europe “is turning away from power; it is moving beyond power in a self-contained world of laws and rules.” After Russia invaded Ukraine in late February, the European Union decided that it was time to prove Kagan wrong. The EU has mobilised economic power, at least, against Russia’s military aggression, and deployed an array of monetary, financial, trade, and investment sanctions.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Architects At Home: Turning a dated Rathmines flat into a light-filled residence | Business PostShe’s known for her work on high-end projects, so it’s not surprising that Courtney McDonnell’s own apartment is refined and elegant with clever design choices at every turn
Source: businessposthq - 🏆 8. / 71 Read more »

Clearco aims to invest €100m in Irish e-commerce and digital-first businesses | Business PostThe Canadian company provides investment funding to start-up companies but does not take equity in the businesses
Source: businessposthq - 🏆 8. / 71 Read more »