The ‘protracted’ crisis in Ukraine, as well as the conflict in the Middle East, increases instability and the likelihood of worsening economic prospects for the European Union, RIA Novosti reports
Information on the dependence was published on November 15th, in the European Commission’s autumn economic forecast.
It also said that ‘uncertainty and downside risks to the economic outlook have increased in recent months amid the ongoing conflict in Ukraine and the escalating situation in the Middle East’.
So far, the impact of the Middle East crisis on energy markets has been contained, but there is a risk of disruptions in energy supplies, which could potentially have a significant impact on energy prices, global production and the general price level – this is how the situation is assessed in the document.
The European Commission believes that ‘the economic development of the EU’s main trading partners, especially China, also poses risks for the European economy.
