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Energy crisis is not over

January 7th, 2023

A conservative and a liberal columnist fear that Europe and Hungary will face an even bigger energy crisis this year than last.

In Magyar Hang, Gábor Stier deems it likely that 2023 will be an even more challenging year for Europe than 2022. The conservative columnist points out that the Ukraine war and the ensuing energy crisis had tough implications for Europe. Stier ascribes Europe’s vulnerability to the dependence of its economy on Russian energy, while its security was provided by its alliance with the US. He predicts that the burdens of European countries will be further increased, in addition to skyrocketing energy prices, by the EU’s determination to support Ukraine at any cost and even admit it among its members.

Telex’s Tamás R. Mészáros also suspects that in 2023, Europe may face an even deeper energy shortage than in the past year as the EU tries to become independent of Russian energy imports. The liberal pundit fears that despite the government’s efforts to secure alternative energy supplies, it will be very costly to maintain energy price subsidies in 2023.

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