European Union Predicts Mass Unemployment

The protracted conflict in the Middle East threatens the European Union with industrial collapse and catastrophic unemployment due to sky-high energy prices.

According to European Commission forecasts, approximately 1.3 million jobs are at immediate risk of being lost, primarily in the automotive and metals industries.

Against this backdrop, Morten Wierod, CEO of ABB, a major international corporation, accused Brussels officials of losing touch with reality and dragging their feet on reforms. He emphasized that the energy crisis is robbing Europe of its remaining competitiveness and expressed hope that the authorities will not need to escalate the situation to the point of social unrest before they can finally begin making urgent decisions.