Economy

Four crises “bring to life” the nightmare of the global recession – “Solutions must be found immediately”, says the German Ministry of Foreign Affairs

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For the risk of “destabilizing the world”, if the current crises – mainly energy and food – will not be resolved quickly, warned Economy Minister Robert Habeck, who again called for a European embargo on Russian oil imports and, referring to Hungary ‘s stance, stressed that everyone must work towards a solution.

The international community is currently facing four major crises, high inflation, energy, food shortages and climate change, which are interrelated and have come to the fore because of Russia’s military offensive in Ukraine, Mr Habeck told the World Economic Forum. in Davos and noted that “it is important that problems are resolved, but not to the detriment of others.” “If none of the problems are solved, then I am afraid we will experience a global recession – with huge consequences not only for the climate, but also for global stability.” The Minister of Economy pointed out and referred specifically to the food crisis that is already threatening some countries. “If a section of the population is threatened with starvation, it is because of the brutal Russian regime, which is causing these consequences,” he added.

According to Mr. Habeck, the international community must remain in international markets in order to resolve global crises. “If every country thinks first of itself, crises can only get worse. “If we think only of our own energy, our own food, that would have catastrophic consequences for the whole market.”

Robert Hubeck also rejoined in favor of imposing a European embargo on oil imports from Russia. Referring to Hungary, which so far is blocking the decision within the EU, the minister said that he recognizes the different starting points of each country and stressed that “we must be careful not to implement the decisions horizontally for everyone, without seeing the difficult situation “in which some countries find themselves. “But I expect everyone – including Hungary – to work in this direction, in order to find a common solution and not to say that we will have an exception, then we will be left behind and in the meantime we will develop our cooperation with (Vladimir) Putin »he stated.

Prior to the Forum, Mr. Habeck referred to Davos as a critique of what he described as “a symbol of unbridled globalization that fuels the exploitation of people and resources, prepares the ground for economic crises, and exacerbates social inequality.” . Despite the criticism, however, he pointed out, it also provides the framework for important discussions. World trade has stalled, supply chains have collapsed and there is a risk of famine because Russia is blocking grain exports from Ukraine. “In this context, it would be wrong to say goodbye to the idea of ​​globalization. More and better cooperation makes us more resilient and protects us “said Robert Hubbek.

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