SOCIAL UNREST COULD OCCUR IN EUROPE DUE TO A HARSH WINTER

Wed 14 September 2022:

The head of the International Monetary Fund warned on Wednesday that a harsh winter could cause social unrest in Europe, where Russia’s invasion of Ukraine has already had “horrible” economic effects and is fueling concerns about an impending recession, Reuters reported.

IMF Managing Director Kristalina Georgieva said the current situation meant that the European Central Bank needed to carefully balance its fight against inflation while remaining “mindful of the necessity to keep the economy going.”

“There is certainly fear of recession in some countries, or even if it is not recession, that it would feel like recession this winter,” Georgieva said. “And if Mother Nature decides not to cooperate, and the winter is actually harsh, that could lead to some social unrest.”

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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