Legions of European companies are succumbing to the final straw of Europe’s largely self-inflicted energy crisis.
Authored by Nick Corbishley via NakedCapitalism.com,

Bankruptcy proceedings in the Canary Islands, Spain’s heavily tourism-dependent island chain, soared a whopping 276% year over year in 2022, according to the latest data published by the General Council of the Judiciary (CGPJ) in its report, “The Effects of the Economic Crisis on Judicial Bodies.” The archipelago also saw the highest rate of dismissal claims in Spain, with around 400 of every 100,000 inhabitants losing their jobs.
But this trend is not unique to the Canary Islands, nor indeed Spain. It is happening across large swathes of Europe’s economies, as legions of businesses succumb to the final straw of Europe’s largely self-inflicted energy crisis.
In the EU as a whole the number of bankruptcy declarations initiated by businesses increased substantially (26.8%) quarter-on-quarter in the fourth quarter of 2022, reaching the highest levels on record since Eurostat began collecting EU-wide bankruptcy data in 2015. The number of bankruptcy declarations increased during all four quarters of 2022. As the Eurostat graph below shows, at the current rate of business destruction it won’t be long before businesses are closing at a faster rate than they are opening.

This trend, of course, was not hard to foresee. In August 2022, I warned that the EU’s largely self-inflicted energy crisis and resulting inflation is tipping legions of small businesses over the edge … Continue reading >>>
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The report claims the RAND Corporation a defence and foreign policy think tank founded by military aircraft maker Douglas has the official aim of improving policies and decision-making, is the source of its evidence.
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So whodunnit? Sabotage of undersea gas pipe will escalate tension and move the world closer to nuclear war, but who is behind it, Russia in a bid to put more presure on Europe, Ukraine in an attempt to drag NATO into direct action, or the USA using a CIA false flag event to advance its own agenda.
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Swedish news organisation Nya Dagbladet has published a leaked top secret US plans to use the war in Ukraine and an induced energy crisis to destroy European economies.
The report claims the RAND Corporation a defence and foreign policy think tank founded by military aircraft maker Douglas has the official aim of improving policies and decision-making, is the source of its evidence.
Has Putin Has Pushed Europe Into Economic Depression, Hyperrinflation and Currency Collapse?
Though it was entirely predictable and indeed had been expected for some time, the news over the weekend that the Nord Stream 1 pipeline which feeds gas from Russia to northern Europe via The Baltic route had been shut down completely by The Kremlin in retaliation for the continued financial and military support given by NATO and EU member states to Ukraine in the conflict with Russia. The European Commission, governing body of the EU, immediately put the community on something close to a war footing, …
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