EU news: “The euro like the Titanic!” EU criticized for ‘shooting itself in the foot’ as crisis looms | World | New

Europe is desperately battling the dangerous possibility of a huge gas shortage as the freezing winter months approach, as fears mount that Vladimir Putin will completely cut off supplies to the continent. The European Union has accused Russia of using energy blackmail and claimed the move was “politically motivated”, with gas supplies passing through Russia’s massive Nord Stream 1 gas pipeline to Europe collapsing at only a fifth of its capacity.

Eurozone inflation jumped again to 8.9% in July from 8.6% in June and 8.1% in May, while earlier this month the struggling euro hit parity with the US dollar for the first time in more than 20 years.

European critic and Frexiteer Eric Noirez launched a furious attack on the EU and claimed that the euro had become a “trap that is now closing in on us”.

He told Express.co.uk: “The EU has inevitably shot itself in the foot – it has reneged on its principles and its own rules aimed at maintaining economic stability for a frantic and suicidal headlong rush that has today leads to the euro crisis that we are experiencing.

“Where common sense and pragmatism should have led to stopping the aberration that is the euro, the eurofanatics preferred to persist in their error and make the euro live at all costs.

“From a fake good idea, the euro has become a trap that is closing in on us.

“In reality, the question regarding the euro is not whether this currency will explode or not.

“The euro will explode because the problems it poses are insoluble and because the crisis for which it is primarily responsible, as well as the differences it creates between nations, will become too great for it to explode. not.

“It’s simple logic: the euro blew up the debt, and now the debt is going to blast the euro.

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The EU spokesperson also warned that the euro is a system that “has reached the end of its life”, but that this is “not very surprising”.

He explained: “The situation in the euro zone is dramatic, not to say desperate: record inflation, record trade deficit, record public debt, continued deindustrialisation, growth still at half mast and, finally, a growing loss of investor confidence. and economic actors. .

“And it must be said that there is nothing on the horizon that can improve the situation.

“In fact, the euro is a system that is out of breath, but that’s not very surprising, since the euro has always been a totally dysfunctional monetary system, which Europeanists have wanted to keep alive at all costs. , through a truly irrational dogmatism.

“Today, the peoples that make up the EU are quite simply about to pay the price for this political choice, which has carried within it the seeds of disaster.”

Generation Frexit chairman Charles-Henri Gallois said it was a “mistake to save the euro” and that the single currency “will die sooner or later”.

He said Europe’s harsh sanctions on Russia in response to the war in Ukraine were actually doing more damage to Europe and warned that if the situation did not change, “Europe may be facing the biggest financial crisis in its history.

He told Express.co.uk: “It was a mistake to save the euro. The euro was badly built from the start and will die sooner or later.

“Then I know the position is not widely shared in the UK but I think the sanctions against Russia are suicide for Europe.

“Economic sanctions that hit you harder than Russia are totally stupid. I am against the invasion of Ukraine but we should stop the sanctions and focus on peace to avoid the suicide of Europe.

“If we don’t, Europe may face the biggest financial crisis in its history.”