Explainer: Ukraine: clouds on the horizon for Europe's economy
SO WHAT IS THE OVERALL IMPACT TO THE EURO ZONE ECONOMY?
Clearly negative, nonetheless. Higher energy and food prices would sap household purchasing power and erode confidence. Consumption would be hit quickly and investments would likely fall in the weeks and months afterwards.
"The geopolitical clouds that we have over Europe, if they were to materialise, would certainly have an impact on energy prices and, through energy prices, an increased cost throughout the whole structure of prices," the ECB's Lagarde said last week, citing hits to consumption and investment.
"There’s not much that monetary policy can do to influence energy prices," Neil Shearing at Capital Economics said.
まあ、いいわけないわな。
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