Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.
Sheikh Qassem: The government’s latest decision [on the disarmament of the Resistance] is non-charter-based, and if the government continues down this path, it is not faithful to Lebanon’s sovereignty.

Eurozone economy set to shrink in 2023 due to high inflation: Reports

  • By Al Mayadeen English
  • Source: Agencies
  • 1 Jan 2023 16:57
2 Min Read

Economists warn that next winter will be even more challenging for the Eurozone economy.

  • x
  • the Eurozone economy is set to shrink this year due to high inflation and potential energy shortages (Getty Images)
    The Eurozone economy is set to shrink this year due to high inflation and potential energy shortages. (Getty Images)

Europe is trying to tackle dwindling fuel supplies from Russia, caused by Western countries' tight anti-Russia sanctions that were imposed over the start of the war in Ukraine in late February.

The Financial Times cited economists who warned that the Eurozone economy is set to shrink this year due to high inflation and potential energy shortages.

The economists indicated that the single currency zone was already in recession, with the gross domestic product expected to contract over the whole of next year.

Chiara Zangarelli, an economist at Morgan Stanley, indicated that "gas markets in Europe remain a key risk," warning that "additional supply disruptions, or a particularly cold winter, could lead to renewed tensions and prices rising again, forcing another round of adaptation and demand destruction."

Despite EU members managing to lower their dependence on Russian gas imports by turning to the United States and Norway, as well as shifting to alternative energy sources, economists have warned that without Russian supplies, it will be much harder to refill Europe’s gas storage facilities ahead of next winter.

Related News

Bulgaria faces protests as Euro adoption nears approval

German economy shrinks 0.3% in 2023

On his part, Carsten Brzeski, head of macro research at ING Bank, warned that "gas storage levels are dropping quickly now," adding that "there is still the risk of an energy supply crisis this winter."

According to Brzeski, "Next winter will be even more challenging."

This comes a few weeks after Bloomberg reported that Europe "got hit by roughly $1 trillion from surging energy costs" amid the fallout of the war in Ukraine, warning that "the deepest crisis in decades is only getting started."

Shortly after the start of the war in Ukraine, the West imposed on Russia packages of severe sanctions. In December, the EU also joined the G7 to set a price cap on Russian oil at $60 per barrel and rolled out its ninth anti-Russia sanctions package.

The restrictions disrupted supply chains worldwide and exacerbated ongoing energy market issues, which in turn led to soaring oil prices.

Read more: Germany could become 'bankrupt state' due to energy spending: Berlin

  • Eurozone
  • Europe
  • Russia
  • European Union
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Tom Artiom Alexandrovich, executive director of the defense division of the Israeli National Cyber Directorate, undated (Social media)

Israeli-born US prosecutor drops Israeli officer child sex crime

  • Politics
  • 19 Aug 2025
Almost instantly after the Helsinki Accords were signed, organisations sprouted to document purported violations, whose findings were fed to overseas embassies for international amplification. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

How ‘Human Rights’ became a Western weapon

  • Opinion
  • 23 Aug 2025
Israeli soldiers stand on the top of armoured vehicles parked on an area near the Israeli-Gaza border, as seen from southern Israel, Wednesday, Aug. 20, 2025 (AP)

Palestinian fighters target Israeli soldiers, vehicles in Gaza

  • Politics
  • 21 Aug 2025
Launch of a ballistic missile from Yemen toward the occupied Palestinian territories. (YAF military media)

Yemeni Forces announce firing hypersonic missile at Al-Lydd Airport

  • Politics
  • 22 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli Prime Minister Benjamin Netanyahu speaks during a press conference at the Prime minister's office in al-Quds, Occupied Palestine, Sunday, Aug. 10, 2025 (AP)
Politics

Netanyahu deliberately derailing truce with Gaza occupation: Hamas

Irish President Michael Higgins arrives to deliver his speech during a 42nd World Food Day celebration at FAO headquarters in Rome, on Oct. 16, 2023. (AP Photo/Alessandra Tarantino)
Politics

Irish president renews call for UN military intervention in Gaza

US Ambassador to Turkey and Special Envoy to Syria Tom Barrack speaks during an interview with The Associated Press at the US Embassy in Aukar, northern suburb of Beirut, Lebanon, Monday, July 21, 2025 (AP)
Politics

US envoy, Netanyahu discuss restraining attacks on Lebanon, withdrawal

Smoke billows following Israeli airstrikes in multiple areas in Sanaa, Yemen, Sunday, Aug. 24, 2025 (AP)
Politics

Ansar Allah vow sustained Gaza support despite Israeli strikes

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS