Europe is desperately battling the dangerous possibility of a huge shortage of gas heading into the freezing winter months as fears soar Vladimir Putin will completely cut off supplies into the continent. The European Union has accused Russia of resorting to energy blackmail and claim the move is “politically motivated”, with gas supplies flowing through the huge Nord Stream 1 pipeline from Russia into Europe plummeting to just a fifth of its capacity.
Eurozone inflation jumped again to 8.9 percent in July compared to 8.6 percent in June and 8.1 percent in May while earlier this month, the struggling euro hit parity against the US dollar for the first time in more than 20 years.
EU critic and Frexiteer Eric Noirez warned launched a furious attack against the EU, and claimed the euro has 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 reneged on its principles and its own rules aimed at maintaining economic stability for a frantic, suicidal headlong rush that has led today to the euro crisis 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 to keep the euro alive at all costs.
“From a false good idea, the euro has become a trap that is now closing in on us.
“In reality, the question concerning 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 mainly responsible, as well as the divergences it creates between nations, will become too strong for it not to explode.
“It’s simple logic: the euro exploded the debt, and now the debt will explode the euro.
The EU critic also warned the euro is a system that has “reached the end of its tether”, but that this is “not very surprising”.
He explained: “The situation in the eurozone is dramatic, not to say desperate: record inflation, record trade deficit, record national debts, continuing deindustrialization, growth still at half mast and, finally, an increasing loss of confidence of investors and economic actors.
“And it must be said that there is nothing on the horizon that could improve the situation.
“In fact, the euro is a system that has reached the end of its tether, but this is not very surprising, since the euro has always been a totally dysfunctional monetary system, which the Europeanists have wanted to keep alive at all costs, through a dogmatism that is truly irrational.
“Today, the people who make up the EU are simply about to pay the price of this political choice, which bore the seeds of disaster within it.”
Generation Frexit President Charles-Henri Gallois claimed it was a “mistake to save the euro” and that the single currency will “die sooner or later”.
He said the brutal sanctions from Europe towards Russia in response to the war in Ukraine are in fact doing more damage to Europe and warned if the situation doesn’t change, “Europe will face maybe the biggest financial crisis of its history”.
He told Express.co.uk: “It was a mistake to save the euro. The euro was badly built from the beginning and will die sooner or later.
“Then, I know that the position in not widely shared in the UK but I think that the sanctions against Russia is a suicide for Europe.
“Economic sanctions that hit you more than Russia is totally stupid. I’m against Ukraine invasion but we should stop sanctions and focus on a peace to avoid Europe suicide.
“If we don’t do it, Europe will face maybe the biggest financial crisis of its history.”