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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 consumer, business confidence levels worsening

  • By Al Mayadeen English
  • Source: Agencies
  • 5 Aug 2022 20:06
3 Min Read

The Economic Sentiment Indicator (ESI) fell in most of the eurozone countries, apart from France.

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  • Eurozone's consumer, business confidence levels worsening
    Eurozone's consumer, business confidence levels worsening

Eurozone consumer and business confidence levels dropped to their lowest on record as households brace for a possible recession amid record inflation and the risk of a Russian energy cutoff.

The Italian National Institute of Statistics (ISTAT) issued a report on Friday that stated "Perspectives for the euro area as a whole are worsening. In July, the Economic Sentiment Indicator (ESI) plummeted -4.5 points, falling below its long-term average. The drop was due to significant losses in the industry, services, retail trade, and consumer confidence, whereas confidence in construction decreased more mildly."

The report added that the ESI fell markedly in Spain, Germany, and Italy while remaining broadly stable in France.

Eurozone's ESI amounted to just over 95 points in February 2021 and fell from nearly 115 points in January to about 100 in July.

In a report published last week, the EU commission said that "the substantial decrease in industry confidence (-2.8) resulted from significant deteriorations in managers’ assessment of the current level of overall order books and their production expectations, which dropped to a 20-months low."

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It added that "The further substantial drop in consumer confidence (-3.0) resulted from marked deteriorations in all four components. Both households’ assessment of their past financial situation and their outlook on their future financial situation hit all-time lows and their intentions to make major purchases and expectations about the general economic situation fell to the lowest levels since April 2020."

Since 2021, energy prices in Europe have been growing as part of a global trend. After the beginning of Russia's operation in Ukraine and the adoption of several packages of sanctions against Moscow in the West, inflation accelerated and fuel prices have been growing exponentially.

As a result of this, inflation accelerated across the eurozone since the beginning of the year, growing from 5.9% in February to 8.6% in June and 8.9% in July.

Last week, the EU energy ministers reached a political agreement on the "Save Gas for a Safe Winter" plan on coordinated demand reduction measures for gas.

The emergency plan recommends a voluntary 15% cut in natural gas consumption from August 2022 to March 2023, which the member states will institute "with measures of their own choice".

Several nations have already voiced their opposition to consumption cuts, including Italy, Poland, Hungary, Portugal, Greece, and Spain.

Read more: OPEC's small raise in oil output described as an 'insult' to Biden

  • Eurozone
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