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04 May 2022, 15:27

Opinion: EU is in a difficult economic situation

Andrei Savinykh. An archive photo
Andrei Savinykh. An archive photo

MINSK, 4 May (BelTA) - The EU is in a difficult economic situation, and this situation is deteriorating every day, Chairman of the International Affairs Commission of the House of Representatives of the National Assembly of Belarus Andrei Savinykh told BelTA on 2 May.

“The EU is in a difficult economic situation and this situation is deteriorating literally every day. I noticed that France and Spain did not publish economic reports for Q1 2022. Apparently, they are now seriously thinking about what to do in order not to scare the financial markets. Various sources are becoming aware of a serious capital flight from the EU. It does not look fatal yet, but this export of capital has already exceeded the amount of capital flight from Russia in the crisis years some 7-10 years ago,” said Andrei Savinykh.

The MP stressed that the worst thing is that the living standards of citizens are deteriorating. “Rising prices, inflation and deficits are hitting the wallets of ordinary citizens of EU countries. The citizens of Central and Eastern Europe, the new members of the EU, will be sacrificed in the first place. Their situation will be the most unenviable. This can be seen as clear proof that Western Europe is currently governed by transnational corporations that think primarily about their own profits, while sacrificing the interests of ordinary citizens,” he said.

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