Interesting article.

The assessment is wrong. Europe is at the dawn of a systemic economic failure.

We are not talking about a recession or depression. We talk about the entire system collapsing: Blackouts over days-weeks, no logistics, no food, no energy, no heating, no financial system.

I completely misjudged the high dependency of countries within the European Union on Russian gas and oil. The EU was built in the spirit of peace through trade and communication.

The only way forward is to get Russia, Ukraine, and the European Union to the negotiation table to resolve what needs to be fixed before winter.

Otherwise, it is going to end very badly for all parties involved.