Understanding the War in Ukraine (13) - The Economy with George Papaconstantinou
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- Опубликовано: 9 июл 2024
- Prof Alexander Stubb asks Prof George Papaconstantinou about the economic impact of the war on Russia, Ukraine, Europe and the world.
Prof Papaonstantinou is Chair at the EUI School of Transnational Governance and Director of the School's executive education programme. He is an economist who holds a Ph.D. from the London School of Economics and has served the Greek government at the highest level, as cabinet minister (Minister of Finance and Minister of Environment and Energy), Member of Parliament and Member of European Parliament (MEP).
This video is the first in a series of interviews delving into specific aspects of the war with professors at the European University Institute, following the 12 video lectures by STG Director Prof Alexander Stubb.
This episode was recorded on 17 May 2022.
More via bit.ly/3lNanrs
#Ukraine #UkraineRussiaWar #UkraineWar #AlexanderStubb #GeorgePapaconstantinou #GeorgePapakonstantinou #Russia #economy #economics #finance #trade #foodsecurity 
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I always anticipate your lectures professor 😊
The port of Odesa is not captured. It is blocked. Russian ships are a little further away than Ukrainian missiles can reach. However, several ports located in the south of Odessa are not blocked, but they are too small to export all grain
Yara, it is insufficient to exit the port, if enemy navy executes military blockade of the sea you purport to traverse.
@@rossoxon I do not claim that the port of Odesa can be used. But the fact is that the russians did not capture the city (as the expert pointed out). Russians still control a relatively short distance from the Snakes island to the territorial waters of Romania. Sea routes for grain exports can be unblocked by providing Ukraine with long-range missiles or escorting military ships from third countries. At least that's what we think in Ukraine.
@@Yara-ox5my Submarine Yara, Russia have Submarines in Black Sea right now and Anti ship missiles too, Zircon Antiship missile (1,500 Km range) Kinzhal Missile (3,000 Km range), you know how far is Sevastopol, Crimea to Istanbul Turkey? (Istanbul Canal) ...ONLY 500 Km!....
why is the rouble higher tan before the war ?
Excellent discussion. The long term effects of 'weaponizing' financial instruments on globalization is an aspect I've not previously heard anyone discuss. That is very germane, especially when countries, such as Somalia, are so terribly affected by a conflict between 'first world' nations.
Great insights that expand my interest and understanding…..thank you .
Good afternoon. Thanks so much!!! I learned a lot today.
I love your style and your content for these mini lectures. Please keep them coming 👍
Please continue!
Wow! All these big problems. Perhaps they are opportunities for innovations in food and energy production. Thanks for another great video.
IMO, your timely educational RUclips lectures concerning the far reaching consequences, locally and globally, resulting from the ruthless unspeakable evil being done to the Ukrainian children and families by dangerous Russian aggression, are vitally important for people to hear. In these turbulent times I believe people benefit from people like you. The psychological trauma to children is beyond words as you know. Please continue your lectures with various guests. Thank you.
The solution to PEACE was so simple, yet so difficult. No ? Looking back, had Zelensky's Ukraine sign a PEACE agreement with the Russian, to remain Neutral and NOT join NATO. And implement the Minsk's Agreement 2015 to have PEACE within's Ukraine ethic problems, which Angela Merkel tried so hard to make it happened, to maintain PEACE in Ukraine. But, it's not to be, so here we are, the destruction of cities, loss of live and suffering of the population in Ukraine. You are right Ukrainian Children and families, could have live in PEACE. BUT, Politicians got in the way of PEACE. Now, the rest of the world are facing economic difficulties due to US and EU sanctions on Russian Energy, Commodities and Food.
Why is Ukraine the West's Fault?
ruclips.net/video/JrMiSQAGOS4/видео.html
Zelensky's three big miscalculations
ruclips.net/video/O1-uRaAbjUM/видео.html
Twenty years of Putin and the west still fails to understand him
www.independent.co.uk/voices/russia-vladimir-putin-ukraine-invasion-b2015632.html
If the Sanctions are intended to punish those who created the War, why not sanction Victoria Nuland?
The Sanctions have been discussed for years.
The US has imposed economic sanctions of Russia, Cuba and even Valenzuela.
The intended implications of the sanctions seems to be to enable the US Investors who seek to exploit Eurpoean Consumers with LNG have projected a $200 billion revenue increase.
Most feel the projected profits are a bit higher than the potential ability to provide fuel might actually accomplish. Port Facilities as well as distribution systems seem to need significant construction issues. Dedicated Ships seem to be difficult to construct to deal with demand.
But the ability to convince European Consumers that the cost seems to be worthy of their devotion to the US desire to drive Russia out of the Gas Business, as the inflation the sanctions is creating seems to be even more costly than all the Weapons delivered to Ukraine to provoke Russia to react?
What weapons delivered to Ukraine makes Russia react? Jawlines? NLAW? It's just a modern rpg. Did any country a threat to Russia with manpad?
Or when some countries didn't sell weapons to Ukraine, because there was war in donbas, conflict. But they were selling modern tech to Russia. That provoked Russia? Or Ukraine doesn't have a right to have an army and be able to protect itself?
@@ivankarcha4935 60 years of CIA employing Nazis to conduct espionage in Ukraine seems to be a start?
But if you assume that Donbas is not able to stand as an independent Nation you may not have remained awake long enough to understand that the US was a Colony of Britain at one time?
You may have overlooked Hessian Mercenaries like Roland the Headless Thompson Gunner attempting to cling to Colonies in Africa?
You might need to study the effects of the conflict as well as the use of mercenary armies?
Thankmyou , guys
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Fantastic content guys 👍, I always learn so much in such a short video
Finance minister of Greece... sound like captain of Titanic
We do not live in a democratic society. We don’t choose the issues to vote on and we get handed a few selection of people that we have to choose from… democracy is a broad term and can be interpreted in ways that benefit certain individuals. It is not a concrete term in which tricks us as the population in thinking these people that get put on the stand that we have to make a decision from is “us having the power” if you think we have power that is sadly wrong.
On point learned freinds…..!
thank you for one of the finest video on youtube,
make sure your speakers know BEFOREHAND what they want to say,
no aaaah, oooh, umh, eeerr eerer....
Those channels are truly a pain to watch.
Don't let those fools on your channel.
is good video
Great discussion, keep it going ! War is awful, everyone loses but this war is existential for the democratic world order.
'this war is existential for the democratic world order' ~ Based on what logic? The conflict has its roots in the 2014 Maidan coup d'etat mounted by the far right which overthrew a democratically elected pro-Russian government.
Ukraine has banned all opposition parties that oppose joining NATO and EU. Ukraine has enacted 3 waves of conscription, males 18-60 years old not allowed to leave the country.
@@goldreserve Maidan wasnt a coup d´etat. A majority of the population wanted the Viktor Yanukovych Government gone, but they refused and used russian security forces to shut the protest movements down.
Per definiton it was a revolution, because a vast majority of the countries population was part of the overthrowing movement, a coup d´etat refers to a small interest group overthrowing a government (like military, police or foreign powers).
Also the ban on opposition parties seems logical since their leaders in 2014 were major leaders in the DNR/LPR seperatist movement. People who wage war against their own country of course wont be allowed in this countrys parliament.
The true opposition still remains in the parliament, but is of course very small. Even the 2014 opposition parties still remained in parliament, but of course with different leadership.
2014 Nuland-Pyatt phone call. Assistant Secretary of State Victoria Nuland and US Ambassador to Ukraine discussing who US want to be next leader. Originally uploaded to RUclips Feb 7th 2014 a week before the coup. ruclips.net/video/JoW75J5bnnE/видео.html
Thank you once again for your insights and easy to follow information 😊
Thank you for spending the time to create and share this content for all of us💙🙏🏾🇺🇸
I feel like this guy (George Papaconstantinou) understands numbers but doesn't understand how the economy actually works.
As far as I can tell, Odessa is cut off, but hasn’t fallen into Russian hands. Maybe this needs a correction?
Getting even better...great format this 20min dense of useful information.
One small correction. Not ll of the $600 billion of Russia's foreign currency reserves could be frozen by the west. 14% of the reserve is with China which possibly is accessible and 20% in the form of gold is with the CRB which obviously is useless till the sanctions are eased or lifted completely.
Auditing this , one realizes the many implications of Russia's actions and how complicated the chain of events becomes for now and the future.
It's.. US's reaction to Russia, not Russia's actions. US using sanctions, not Russia. EU using sanctions, not Russia. Do you understand who is responsible for this? Not Russia.
@@MrZlocktar you also blame the cop that arrests the murderer?
@@MrZlocktar THIS IS PURE RUSSIAN PROPAGANDA. PLEASE HAVE SOME RESPECT AND GET OFF OF THIS SITE.
@@MrZlocktar The good leaders of Russia never invaded their peaceful neighbor country. Oh no. It must have been the Ukrainians blowing themselves up. Russians are just there with their guns and tanks to help. Those people who will go hungry because they cannot get food that hard working Ukrainian farmers grew are being taught to be self sufficient with the naval blockade. Not Russia. Russia wants to guide its Ukrainian brothers. This is why they shoot them in the back of the head and dump them into pits. Oh No - Not Russia. Russki Mir has always shown kindness. Just look at how they've treated their own folks throughout history. Not Russia. Ha Ha.
@@maximilianh.3890 This is the most pathetic analogy I've ever seen.
Western world didn't arrested anyone, nor they were a cop. More like murderer well known in other part of world for dozens of invasions and millions of people that were killed in those invasions in the name of democracy.
You wage war against Russia, be glad to pay for it and don't cry about it.
Economical sanctions is the most devastating weapon of mass destruction humanity ever had.
This weapon is in use against Russia. And as it turns out Russia doesn't give a fuck about it, because people in Russia doesn't have x5 bills for electricity, they don't have 30% inflation like in US, they don't have issues with food, shortages, non of that.
The Ruble is so strong that government was forced to lower interest from 20% since 28 February to 11%. only for prices to be better for export.
Russia is fully self-sufficient with strategical resources and doesn't rely on anything strategical to import. You don't have leverage over Russia, you have nothing to threat Russia with. It will be much worse for Europe in coming years. This winter will be extremely painful for Europe. Buckle up. Long road ahead.
When sanctions bite the countries that imposed them, it is simply "SELF FORNICATION". That is a cost of being a VSA - Vassal States of America.
Fantastic lecture.
We need to figure out how to fix this as we the people and not give more to the one percent that control the production of energy or the production of food. We need to take back our control in a respectful manner. We have to be the solution on instead of giving it to the elite. They will feed off our fear enough to come up with the solutions they already have because they created the problem. They want us to support their production instead of thinking for ourselves and what we can do to help as a whole.
Really interesting and clear.
Thanks!
A new filmmaker or just a new view? That shot via the mirror, the light on Stubb, the broad frame.... I don't know. I had to watch twice to get to the content (which is excellent of course!) Kiss?
Agree. Seems slicker than previous … including Professor Stubbs new slicked-backed hair and interviewing on camera while wearing shorts?
Generally I LOVE the content, but production here was quite strange
What about what sanctions are doing to us the EU?
Like to know what he did for greece during the recession, and the banking crisis,
How can a country with the gdp of NL or Spain have such an army, marine, submarine, nuclear power, access to space?…
By not giving the people that generate this wealth a slice of the cake?
It is not like any other country want to take them in.
On this part of the discussion, I disagree. Russians economy is bigger than that.
@@hllaryeneji2984 Only barely.
Spain GDP 1.281 trillion USD
Russia 1.483 trillion USD
If you look at per capita numbers, you wonder what the hell Russian plebs are doing all day.
Because what all of these economists don't realize is that resources, industry, and manpower count for more than just numbers on a ledger.
It looks like old Europe, represented by the politicians of Germany, France (Macron survived the election) and Italy are now willing to do anything (if they don’t have to pay for it) to return things as it was before February 24th, forget and forgive on Russia. On the other hand, they cannot deny support to Ukraine fully - but they can bureaucratize and slow down most important things
Lucky "new Europe" will not stand for it.
Only Hungary are in the fascists' pocket.
Greece have weird commie leanings, but they will see sense too.
Germany for sure can't be trusted. Maybe they can earn it, but nobody should trust them or Hungary right now.
Professor Stubb: I have LOVED your videos!!
But are you actually doing this interview while wearing shorts?? Am I wrong? If not -- sorry -- that’s just strange and so ….. unprofessional
Sad how any attempt to secure a future tends to cause suffering in another part of the world...
Ex Finnish pm has such a wonderful command of the English language
I suspect that the recent discovery of those oil/gas fields in central Ukraine played big in Putins invade. Assets like this nearer and friendlier to Western Europe than Russia...unfolding competition there...
The answer is a consumer driven recession. In order to soften or reduce consumer good inflation, consumers should reduce their consumption. Pressure needs to be brought on oil suppliers to increase production in the medium term to reduce the cost of oil. If this cannot be achieved, then the only way to cause that to happen is by drastic demand reduction driven by consumers reducing consumption. There is no way this pain can be avoided. The only other way is for western allies to enter the war and force Russia to back down. This seems not likely as there is a greater risk of expanding the war. I believe that is not the case, as Russia is already stretched in Ukraine. If the Allies enter the war, making Russia understand that their intention to enter is contained within Ukraine the war will end as Russia is in no position to fight a conventional war within Ukraine on more than one front. Risk of nuclear war are zero as there are no winners in that outcome. Europe should stop sitting on the fence and take some of the punch by stopping immediately all imports of oil and gas. Reducing the flow of income to Rusdia is the only way that is feasible to halting the war.
Thank you for a level-headed post.
I have reduced my thermostat with 2 degrees and soon it will be time to switch it off, and I do my cooking with energy expenditure in mind. I wish everybody would.
Less than 1% of people watching this have ultrawide displays (most have 16:9). Why force this aspect ratio, you think people want black bars on their screen?
As a Greek , it is ridiculous to see mr. Papakonstantinou giving speech about economics .During his ministry of economy ,Greek economy was totally destroyed and Greek people suffered unspeakably from his policies . His party(PASOK) refused to reform the state , increased the taxes ,destroyed enterpreneurship and increased the public debt . AND last but not least made the corruption regime in the greek state .
the bad example of greek economy is totally attributable to PASOKs financial and social policies
What specifically did he say in this interview that you think did not make sense, or is not relevant to this crisis?
Some comments with these series mentioned about trustworthiness of these speakers as they are politicians rather than independent journalist: Hence, credibility and intent.
@@whosamyjig i just mentioned the discrepancy between his speech and his actions . His ministry and his party represent the reasons that lead Greece to financial catastrophe and lot of young people including me , we are in foreign countries for a better future .... PASOK created a clientele relation between people and state , consolidated the corruption in public sector and made the populism the main way to gain political power .... They fully destroyed our country
Interesting discussion. However there is one thing that was omitted. What country instituted the sanctions against Russia and expected their allies to follow. Victoria Nuland ( Under Assnt Secretary of State at the state department) gave an interview to Sky News in January, which can be seen on RUclips under the heading: Full interview: US Under Secretary of State Victoria Nuland. Listening to the interview I do believe that she felt that Russia would not survive harsh sanctions. It seems that she was wrong because at the moment Russia is doing fine but she didn't calculate what effect the sanctions would have on western economies which are not doing well at all. I found the comments to the interview very interesting.
"at the moment" is the keyword here.
How would you say that Russia's economy is doing well?
Braindrain and unparalleled sanctions are just the beginning. Their stock market is closed. Their Rubble is under currency controls. They are days away from a default
2:48 The cost of the war to russia is about a billion a day.
A billion what? Rubbles, dollars, euros?
For me, it's the Ruble for Gas Mandate. Once current African leadership see's that you can sure up your currency vs being purely dependent on Foreign Currency Reserves, it Should Waken the Developing World to an Alternative way to facilitate growth.
Great to receive a broader picture of the massive implications of this war. Sobering.
5:37 - 5:57 - 6:21… 💯
5:37 - 7:13 - 7:21 💯
Alexander, are you running for President of Finland in 2024?
Great commentary.
But it sounds like until Europe is weaned off Russian energy, Putin has all he needs to win in the Ukraine.
Summary: conducting a coup in Ukraine using Nazi muscle, then conducting a proxy war, then using the financial system as a weapon, was a set of Very Bad Ideas.
Tell me you are a Russian supporter/us hater without telling it.
We got a revolution in Ukraine. There were many reasons which led to it. But no one organized it. It was Yanukovych fault. And he deserves it. What proxi war? Was Russia pushed to attack Ukraine?
It makes me furious, when some Nazi dude on internet, think he knows better. Don't forget your foil hat.
Oh and I called you Nazi, just because you calling others Nazi. So I think it's normal, right?
Summary: launching an unprovoked war of aggression, wholesale destruction of infrastructure, mass torture and murder of civilians, and destruction of national identity is what really most closely resembles Nazism and emanates not from Ukraine, but from a certain country to the north.
@@guydreamr but it was provoked, the Russians have been very light on destruction and civilian deaths : because the Donbass people are ethnic Russians, and Russia will be running these areas after the war.
@@guydreamr mass murder and torture? Guy have you noticed that that it has gone very quiet on those allegations? Because it was nonsense and had no basis.
@@jomellon Yup, because all the photographs of the bodies strewn on the streets as well as mass graves taken at both ground level and by satellite were faked. Same with the camera footage of the torture chambers in Bucha and elsewhere showing bodies with amputated limbs with their hands tied behind their back and shot in the head.
As far as going "very quiet" goes, just in the news has been a Russian soldier who has just been convicted and sentenced to life in prison after confessing to shooting an unarmed 62-year old man to death in Bucha. Also, I have just heard the Prosecutor General of Ukraine as well as representatives from the International Court of Justice have now identified at least 600 Russian suspected of committing war crimes throughout Ukraine, with many more expected to be added. Doesn't seem too quiet to me.
I watched your series and learned quite a lot. But why did you never mention the Pacific countries? China is trying to move in, we produce much of the world's food, and is a significant power block.
china is importing food and 85% of their fertilizers. like russia china has no friends and no real allies. all the countries "china moved in" are in dire states, like sri lanka, pakistan.
Considering that Russia is determined to prevent NATO forces east of Dnieper one way or the other, would EU retract or will push Russia economically to Asia?
Lucky Russians, they have so many options in regards to oil and gas, offering potential buyers a good deal.
@@hllaryeneji2984 Essentially, if you buy from Russians, you have pre-war price. Not bad. And if it is supermarket bargain, you take some more and stock for later.
Americans and NATO are not the only country in the World. China and Indians are also very big economic power in the world and births countries are Russian allies not and some countries in the far East even the European can't survive totally without Russian.
Luke 9:60KJV
@15:20 we (the west, Europe) may have a softer landing if the war ends quickly...
If you want the war to end quickly
a. stop the US from interfering
b. encourage the EU to accept that the Russians have their own Monroe doctrine.
US interests are NOT equal to European interests (anymore I should add)
How does the US interfere?
"encourage the EU to accept that the Russians have their own Monroe doctrine"
1. First of all, the Monroe doctrine has very little relevance in today's America.
The Monroe doctrine was formulated by american president James Monroe in 1823. That was TWO HUNDRED YEARS ago! en.wikipedia.org/wiki/Monroe_Doctrine
The Monroe doctrine held that any intervention in the political affairs of the Americas by foreign powers was a potentially hostile act against the U.S.
That doctrine was formulated in response to aggresive imperialism / colonialism promoted by the European powers of 200 years ago. It is no longer relevant for America today.
Here is a video in which secretary of state John Kerry declared in 2013 that "The Era of Monroe Doctrine is Over": ruclips.net/video/4SFSavUqzdw/видео.html
2. What is the Russian Monroe doctrine? That Russia must INVADE and STEAL land from its neighbors who express a desire to join NATO (such as Georgia, Ukraine, Finland) ?
Fantasyland, boo. Fantasyland🙄
Giasas
The sanctions were a bad idea in a global economy. Especially when only a part of the world is participating. Another problem, is that energy was off the table for the longest time and then VERY slow. Coal isn't used that much by the countries imposing sanctions and they have their own production. Putin's blackmail hurt the WEST because they didn't immediately cut off all gas and oil flowing from Russia. Also, the HIGH dependence on Russian oil & gas with no or little diversity of suppliers-like Germany. Anyone who has studied Russian history knows that other than the Yeltsin years and the first 15 years of Putin's rule was only an ANOMALY and not destined historically to continue very long. If they had known that or hadn't ignored it they would have never built Nordstream II and all of Europe would have diversified. Europe has only itself to blame. One question, for countries who depend so much on wheat imports from the two warring countries, would it be possible for them to switch to rice this year? They can use rice flour which is what I use anyway because I have a gluten allergy.
NOT A FAN of the camera work and editing. Love the lecture! Thank you.
Professor Stubb is an excellent communicator, excellent educator.
17:09 why not name "food crisis worrying UN" a direct consequence of steady ignorance and support of terrorussian actions by those "suffering" countries' governments and therefore societies?
No we are not funding the war. The Russian armee ist paid in Rubel, it's waepons, it's amunition, it's fuel, it's food is paid in Rubel alone. We are funding the Russian state budget which is quite another thing.
Russia is self reliant when it comes to food, metals, fuel, Russia doesnt' import this stuff. Russia needs foreign currencies when importing foreign technologie, chips as example. But nobody, except China can deliver.
Em, no. Exactly like they said, everyone with understanding saying. Russia needs to pay their soldiers, to pay their law enforcement. They need all that money to try to stabilize the economy, keep it floating. Around half of the Russian budget - oil and gas.
Mr papakonstantinou, qualified himself as an utter incompetent and failed secretary of finance in Greece, so he is not in position to argue about anything with regards to economy, let alone global economy.
I don't agree with mr.George .In future Russia is going to explore mineral wealth of Ukraine to offset their Economy
Kissinger recommends Ukraine must surrender and cedes some territory to Russia. The longer Zelensky holds the war, the more cities he lost to Russia. The earliest Zelensky surrender , the more he can keep cities not capture by Russia
Well fuck Kissinger.
He wants the Elk to beg the hunter for its life and offer up one of its legs rather than just goring the bastard and surviving.
Question:
1. Does sanctions hurts Ordinary people?
2. Was Russian provoked for this conflict?
3. Why Donbasss and Crimea preferred Russia than Ukraine?
4. Does Taxpayers money needs to prioritize war aid rather than welfare?
5. Will a world without Russia better for the New World Order?
1. yes
2. no
3. They were occupied, local activists were tortured, many fled, and those who stayed did not have any other chance of surviving, this is exactly the reason why occupied country parts citizens "referendums" are illegal.
4. yes
5. yes
@@romanmelsas tell that to the family of 14000 lost lives in DonBass,
How many military base does Russia has compared to the non invaders lol
@@chitofernandez1879
Yes, Russia initiated the first phase of war 8yrs ago and kept it semi-active for 8 yrs. Russian military took over Crimea, and after that, Russian citizens, working for FSB conducted "unrest" in two regions, destroyed the regions, terrorized the local population, built torturing facilities, and advanced further, with the regular army, armed with heavy weapons including howitzers, tanks, and anti-air missile systems (Buk). First tank regiments were brought from Burjatia, they were regular army. First infantry units were obtained from Chechenia and were collected all over Russia from low social status volunteers.
So yes, it is a tragedy from the very beginning and those 14000 were killed, due to Russa aggression.
Health crisis = economy crisis
War crisis is economics crisis too
Defence spending is way too much.
Europe are still buying Russian oil.
Rubble currency is strong. India & China together buying oil & gold 300 billions.
Probable problems with China's Economy won't help.
Re destroyed infrastructure… most is in Russian won areas, so it is Russia who pays to reconstruct their new lands.
8:30; Odessa? when?
Only the harbor acces is blocked. The city is still under Ukrainian control :-)
The message I hear is that Europe must help Ukraine win this war urgently, before millions of starving Africans head to Europe to survive famine.
"Understanding" War in Ukraine without understanding Ukraine itself. Very European approach. Even tiny Finland was considered.... But one of the biggest nation in Europe ignored. Very clear message to all Ukrainians.
He didnt finish the series yet
@@yuriizalievsky6794 OK. Will see.
The thing that these two insightful men mentioned is that there are very likely to be famines in Africa because of Russian blockages. That is no big deal to Putin. Sad, sad, sad.
Putin is such a bastard for his lack of empathy in causing famines.
Africans has always been the victim of everything that goes wrong in the world. We very used to these kind of situation. We are very resilient and strong. It's least it wasn't Putin that put Africans where they are it's the Americans and the British.
Summary: We're too stupid to think through the consequences of sanctions beore imposing them.
Lol yeah, and then when it's obvious it's hurting us we spin it as proof that it works.
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Analysis completely out of truck. Disappointing . 🧐
Sadly and tragically, all three crises where avoidable. Ill disciplined banking, ignoring fiduciary duty of care, driven by pure greed caused the 1st crisis. China's failure failure to communicate the known outbreak, and the WHO's failure to properly identify the risk early on, resulted in a pandemic. Therefore a failure of responsibility on the part of a government and a world authority caused the 2and crisis. The current crisis, is a war of choice. Russia has concocted a pretext based on false historical projection and outlandish stretching of fact and fiction. Simply an excuse was created to serve Putin's fantastical Nationalist/Imperialistic views on Russia's expansion goals. An utterly most selfish act that has resulted in great human tragedy, suffering and death as well as vengeful destruction of property. What has come out of all three of these tragic events is how little prepared states were and how little we were prepared to do to curb these avoidable scenarios. The tragedy is that it seems we learn nothing from history, but repeat the same missteps that ultimately lead down the same avoidable path. Therefore, I question the value of the UN as it currently stands - as it seemed paralyzed by all three events. The world seems galvanized by fear. The question is; have we become so self-centered in our comfort zone in the 21st century, that states are unwilling to risk standing up to obvious 'bully states' - China, Russia, North Korea. Instead we seem more willing than ever to rather appease than retaliate to defend our so-called principles. Do we have principles? Or are our principals only as important as keeping the great global trade moving. Are the interests/profit of giant multinational corporations more important than defending principals?
George is totally inept as he presided over the Greek debt not the right person to truly understand the geopolitical and economic ramifications of this proxy war.
If China won't influence Putin, could the African Union talk him down?
no one can, it is a personal matter for a dying old man who wants to leave a legacy
Europion countries were rich because cheap sources from Russia. not any more.
Protip: Europe is still rich.
@@stream2watch nope they are not. inflation is raising.
@@XgiannettoX Take a look at the average gdp ppp per capita for EU. Take a look at average inflation. Now do the same for Russia. Then do the same for India. Notice something?
I will dumb it down for you. If Europe is poor, the rest of the world is at death's door.
You are also conflating the words "raising" and "rising". good luck with that.
@@stream2watch if the eu is poor, russia would not be that poor.
and you forgot to put how much the EU economy did benefit from cheap russian gas, without that germany is dead on the economic side, and if germany is dead, then europe is fuc...
the eu is losing part of it's economy badly.
inflation is coming much stronger for europe than for russia, having an ipad or nor will not be the standard of living in the future, but to have bread that people can buy
btw., if russia is losing, why did ursula buy oil from russia, with the excuse to not let putin win hahah?
@@XgiannettoX Don't show your IQ online, nor lack of a financial education.
As I said. GDP PPP per capita for the nations mentioned. Look at the numbers. Then own up to your mistake. You can even bring forth the inflation numbers from Nabiullina. READ f f s, you ignorant kid.
whe should cut russian oil or put heavy taxes..
No the USA destabilised Ukraine a gas transit country, so the price of gas went up.
Yeah I vividly remember the US tanks and planes in Ukraine the bombs thrown and rockets fired, oh wait
@@maximilianh.3890 yeah I remember Lindsey Graham in 2016 in Ukraine telling the Azov " were going to get them, the Russian s"! "I'll go back and get money and arms, training all set up for you, again" were going to win this against the Russians"! That's what the USA representative said.
@@davydacounsellor That quote gives 0 results so you are probably full of cr-ap