Have some more 'epic bullshit', truth avoiders:-
Just the lost opportunity cost by canning NS2 is a big one- huge actually. Gotta be replaced by much higher priced LNG. Then there is the fact that Germany was Russia's largest trading partner and foreign investor. Was. Then there is the increased cost of weaponry- an additional 2% of GDP in Germany's case. Money no longer available for things that actually help people. And I suppose the money spent on all those refugees, and so on. And, boom tish- higher energy costs all round. Heating & petrol costs, delivery costs- inflationary. Europe is a major energy importer. Then there's wheat, and palladium- esesntial in auto manufacture. Europe is a big time loser.
But hey, don't take my word for it- read and weep:-
The economic policy consequences of the war
The Ukraine war will have significant economic policy consequences for the European Union and its members, arising from the adverse supply shock triggered by the rise in oil and gas prices, energy independence measures, the inflow of refugees and boosted defence spending. Their direct budgetary implications could be 1.1/4% of GDP in 2022.
Full Article- The economic policy consequences of the war | Bruegel
The economic consequences of Ukraine’s war will be severe for the European Union.
"Even outside of the war’s interruptions, rising gas costs have pushed up power rates due to the EU’s so-called marginal pricing scheme. They broke the record of €200 per megawatt-hour earlier this month. This is especially harsh for nations with harsh winters and high rates of “energy poverty,” such as much of Central and Eastern Europe. However, energy-intensive economies such as Finland and the Benelux nations are also suffering.Other repercussions might be felt as a result of trade. Commerce with Russia accounts for a modest fraction of total EU trade, but it provides a big number of raw commodities to the union, and specific reliance might disrupt supply networks. Russian timber accounts for half of Finland’s imports, while palladium — of which Russia controls 40% of world output — is a critical ingredient for the German and Italian automobile industries.
Wheat is another important commodity, since Russia and Ukraine are the world’s first and fifth largest exporters of grain, respectively, and prices have risen to a 14-year high due to concerns over global supply.
Then there’s inflation, which is likely to grow more and stay higher for a longer period of time than projected. These factors pushed the ECB to announce a speedier reduction of its bond-buying program on Thursday. Energy inflation is a significant driver of inflation, with little relief in sight. Brent oil soared above $120 per barrel on Wednesday, reaching levels not seen since 2008, before dipping to $109 on Monday."
Full article- https://lifewrap.org/ukraines-war-wi...lion-of-euros/