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20th Jul 2022 15:05Eurozone, Daily Monitor

Russian gas will soon flow to Europe again, but at a severely reduced rate; a full shutdown remains likely.

The IMF estimates that Europe will be short some 50bcm gas if Russian supplies are halted, at best.

Only demand compression, via higher prices and or rationing, solves this problem; it will sting.

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consumer confidence current account current account deficit current account surplus deficit ECB ecb meeting energy eu euro fiscal policy france fuel germany imf imports industrial sector italy March May natural gas netherlands policy portfolio outflows primary income surplus russia savings spain wage growth

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Keywords for: 21 July 2022 EZ Monitor

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