Crisis in the Red Sea, warns European Commissioner Paolo Gentiloni: affected ships could harm price stability and the European economy in general. «We know that we started this year with modest growth. There is good news coming from the jobs market, but growing concerns about downside risks caused by geopolitical tensions. In particular what is happening in the Red Sea which, at the moment, apparently is not having consequences for energy prices and inflation, but we think it will have to be monitored carefully because these consequences could materialize in the coming weeks”. The European Commissioner for the Economy, Paolo Gentiloni, declared this upon his arrival at the Eurogroup meeting.
«The main geopolitical risk is caused by the Houthis in the Red Sea. We cannot underestimate the possibility that this tension in the Red Sea will have consequences – which at the moment do not appear to exist – but it could have consequences in the coming weeks on energy prices and consequently on inflation”, explained Gentiloni.
Source: IL Tempo
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
