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For 2023 the wiiw has revised its forecasts down, and overall Emerging Europe growth will average just 0.3%, barely above the 0.2% predicted for the Eurozone.
Siemens Gamesa, the leading wind-turbine manufacturer, has called for a quota system on the amount of EU-produced turbines installed in the trade bloc, reports the Financial Times.
The EU wants a massive expansion in renewable energy. It wants wind energy to grow from 190 GW today to 510 GW by 2030. But Europe is not building enough wind farms to reach this target, says WindEurope.
Europe is hoping to wean itself off Russian gas and turn to renewables but only a few countries rely on hydropower for the majority of their energy needs, while most of the rest of Europe relies on oil and gas.
Demonstrations follow killing of two gay men in bar in Bratislava last week.
European car production could fall by as much as 40%, or more than 1mn vehicles, per quarter out to the end of 2023 as a result of the energy crisis, S&P Global Mobility said in a report entitled “winter is coming” released on October 11.
The provocative populist Czech leader has barely travelled west during his 10 years in office, instead specialising in courting eastern dictators and neighbouring populist leaders.
This winter is going to be tough. An energy crisis has already led the EU to spend over half a trillion euros on relief and support. Europe wants to cut its gas consumption by 15% and has managed to reduce it by 7% already.
One-third of the world economy will likely contract this year or next amid shrinking real incomes and rising prices. The global economy continues to face the challenges of war, a cost-of-living crisis and an energy crisis.
The end of the monetary tightening cycle amid the tougher international environment will mean a correction of 200 basis points in 10-year yields in Hungary, and from 80-140 bps in Czechia, Poland and Romania.
European Political Community isolates Russia, welcomes back UK and reassures EU candidate countries.
A recent wave of resignations by medical staff at Slovak health facilities could mean that some of the hospitals are forced to shut down by December.
Europe’s renewable energy supply chain is under threat from soaring power prices, says Rystad Energy of Oslo. As much as 25% of solar and battery manufacturing capacity in Europe is at risk, says the research firm.
Former coalition partner and SaS leader Richard Sulik says he is now ready to discuss early elections.
As the current rotating president of the European Union, Prague has convened a meeting of the long moribund EU Israel Association to try to boost EU links with the Jewish state.
The EU’s Fitfor55 efforts to reduce CO2 emissions by 55% by 2030 are woefully inadequate and unable to contain global warming to the 1.5°C target, with reductions of up to 77% needed instead to stand any chance of averting a climate catastrophe.
Czechia and Austria introduce checks on borders with Slovakia to stop increasing numbers of migrants crossing towards Germany.
Government efforts to shield populations from the energy crisis and rampant inflation have shifted the economic impact to next year, says the EBRD as it downgrades GDP growth forecasts for 2023.
The European Bank for Reconstruction and Development (EBRD) projects growth in its region will slow as a result of gas supply problems that are feeding an energy crisis. The bank says growth will slow to 2.3% in 2022 in its region and 3% in 2023.