Europe Letter #2
All down. Inflation, the Greens, and Population Growth.
Dear Chappies,
More optimism to refresh your airways with the European fray.
As your accompaniment, black and white negatives of the resplendent decay of Noto, Sicily captured in the 1990s. Courtesy of the Eustachy Kossakowki Archive.
So, inflation is falling. Energy prices being the biggest difference. In 2022, in the first two weeks after the invasion of Ukraine, the prices of oil, coal and gas went up by around 40%, 130% and 180% respectively. That shock now subsides.
Despite the ECR being now the EU’s third largest coalition, it has not yet clutched any top EU roles as von der Leyen returns as the EU’s top dog. The hard-right coalition led by Italy’s Meloni appeared as a promising force after the recent election. But this week, they were excluded from the new executive by the centre parties. This comes as fractures appear in ECR itself. The Polish party (PiS) angered by its lack of leadership in the coalition is even considering an exit. Clearly, the ground is not yet firm for their movement.
Source: Black and white negative 35x25 by Eustachy Kossakowski in May 1993 (Noto, Sicily)
Green rut. Serious concern amongst Greens in the EU after losing 17 seats in the recent EU parliament election. The Party’s Secretary-General stated that the party “was not going to repeat the success of 2019,” and its “drive in society that unfortunately we don’t see anymore”. With the spike in energy prices and declining material living standards, ecological asceticism appears secondary. It might even be that large-scale climate action has passed its high-time.
Europe’s population might now be facing proper decline. Eurostat’s prediction of peak population by 2026 at 453 million might be too optimistic with recent evidence of low growth this year.
Source: black and white negative 35x25 by Eustachy Kossakowski in may 1993. (Noto, Sicily).
The importance of capitals relative to their national economy in 2016. Berlin a clear exception. Despite being Germany’s largest city in terms of GDP, it continued (even today) to drag down the country’s per capita income. “Arm, aber sexy" (poor, but sexy) once said Berlin mayor Klaus Wowereit.
Source: black and white negative 35x25 mm by Eustachy Kossakowski in may 1993 (Noto, Sicily)