A global recession is on the horizon - please read OP for mod warning

Germany about to declare a level 2 gas supply emergency due to sanctions the West have imposed on gas parts exported to Russia.

Despite threatening to sanction imports of Russian fossil fuels for the last 4 months German Economy Minister Robert Habeck said that the reduction of gas supplies via the Nord Stream-1 gas pipeline is "an attack, an economic attack on Germany."

Nord Stream 1 is due to shut completely for 1 week in July due to annual maintenance 🤦‍♂️

Bulgaria's government has collapsed today

Just look at this https://www.myhome.ie/pricechanges and you can see that 9 out of 10 properties had a price reduction which points to softening housing market? Probably they priced higher initially but now realize that they're unable to sell and hence price cut.

It would be great if they did - or at least keep open what they had. Germany shut down a bunch of Nuclear plants Dec/Jan, Putin made his move in Feb. No coincidence. Energy prices affect everything

Serious stuff this. What type of idiot's would sanction a country that it is reliant upon for energy, what is the benefit from it ? Big industry are just going to pack up and move, citizens will pay far higher prices and the gas suppliers will make more money.

Look, emergency plans being put in place in the middle of summer and they voted for it to happen.

The US warned Germany not to increase their dependence on Russia. Putin played them like an absolute fiddle, he drove up the price of energy and made bank in advance of his attack. In the process he's created a refugee crisis in Europe and a coming worldwide food shortage.

"Despite significant challenges in the global economy, Irish economic growth is set to continue in 2022, largely driven by a strong export sector. We now believe that Irish GDP will grow by 6.8 per cent in 2022, with the equivalent measure rising by 4.8 per cent next year. Modified domestic demand (MDD) is set to increase by a slower pace than previously expected; we now expect growth of 4.4 per cent in the present year and 3.7 per cent in 2023, compared to 5.0 per cent and 4.5 per cent in the previous Commentary.

In light of the ongoing war in Ukraine, inflation is set to increase further as the conflict disrupts food and energy markets. As a consequence of increasing price pressures, we now forecast inflation to average 7.1 per cent in 2022.

In response to higher prices, central banks are beginning to end the protracted period of extremely accommodative monetary policy; the European Central Bank (ECB) has signalled that monetary policy rates are set to increase over the coming quarters. This will likely dampen investment sentiment and consumer spending. In a Box to the Commentary, we find that the proposed increase in interest rates will see Irish house prices fall by 2 per cent relative to what they would otherwise be, although demand-side characteristics, as well as a sluggish supply response, will continue to exert upward pressure on house prices.

As pandemic-related supports have come to an end, the unemployment rate has eased considerably. We expect unemployment to fall further, reaching 4.3 per cent by Q4 2022 and averaging 5.0 per cent for the year. We now anticipate an unemployment rate of 4.0 per cent in 2023."

GDP

2021 = 13.5%

2022 = 6.8% e

2023 = 4.8% f

MDD

2021 = 6.5%

2022 = 4.4% e

2023 = 3.7% f

Netflix letting more people go today as well…

Netflix is the type of expenditure people would be first to ditch. Hell I got rid of Sky tv myself as I moved house. €45 per month less of an extra outgoing already

Very sorry to hear that pal. That’s gotta be tough but keep the head up, dust yourself off and get back at it.

not claiming this energy..