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IMPLICATIONS FROM A RUSSIAN GAS CUT-OFF FOR THE EURO AREA

IMPLICATIONS FROM A RUSSIAN GAS CUT-OFF FOR THE EURO AREA

Submitted by christian on Sat, 09/03/2022 - 13:48
  1. A full cut-off from Russian gas would cause gas rationing in early-2023, triggering a recession in the euro area. Only if overall gas consumption of households and firms can be reduced; and concerted action among EU members will help mitigate adverse effects of a cut-off of Russian gas.
  2. Two of the largest euro area economies, Germany, and Italy, remain the most vulnerable.
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