IMF Chief: Harsh Winter May Spark Social Unrest in EU Amid Energy Crisis
A number of countries in Europe may experience social unrest if the upcoming winter is harsh amid an economic crisis, the head of the International Monetary Fund (IMF) warned on Wednesday.
“There is certainly fear of recession in some countries, or even if it is not recession, that it would feel like recession this winter,” said Kristalina Georgieva, managing director of the IMF.
“And if Mother Nature decides not to cooperate, and the winter is actually harsh, that could lead to some social unrest,” she added.
Attending the 2022 “Michel Camdessus Central Banking Lecture” held in Washington, D.C., Georgieva pointed out that Europe is directly affected by Russia’s attack on Ukraine, saying the war has led to “horrible” economic consequences and added fuel to fears of recession in some countries….