As in probably can’t be kept functioning.
Ah, our good friends in the US are playing poker again. So far it’s only Jacob Kirkegaard - who usually is in the ‘know nothing, talk in extremes’ role in those sort of panels, but hey - somehow you have to keep the narrative up, that the majority of the world is very much invested in holding russia accountable.
A very NICE aside present is, the collective G.M.F panels idea on how to deal with the world food (and fertilizer) shortage (the headline topic): Hold more meetings.
Have to stop watching those panels and do something more worthwhile instead. Maybe I’ll pick up staring at goats, or something.
At least they fall down once in a while.
Moneyshot at 15:53 in, when four panelists look either ashamed, or depressed, Jacob Kirkegaard is ranting that the IMF has to stop its work, and Ian Lesser looks off camera and does something else - because you dont have to acknowledge those ramblings, do you?
And if it turns out, that you do - I call dibs on being first. 😉
edit:
Turkish panelist:
“Any mistake in monetary policy coming from Europe, has the potential to drag Europe into recession. And inflation is high and growth is under pressure. […] the war broke out while Europe was reaching its pre pandemic production levels, therefore - rather than inflationary demand, there is more supply side inflation in Europe and in this regard, european economy is estimated to grow almost half of the last year […], lets say 2.8% over last years 5.4% GDP growth. In this regard we are watching the magnitude of the pressure on european growth very closely, which could possibly hurt regions like Turkey, where - 50% of our exports are linked to Europe. […] This is the most likely economic risk we are facing right now.”
Neat. (Oh, and a 200 billion dollar foreign financing need for Turkey this year, ‘while access becomes more expensive in terms of quantity and price’. Someone has got to recognize that as an opportunity…)
edit: Probing question, on how Turkey would react to feeling the impact of secondary sanctions (companies trading with russia being sanctioned), Turkey doesnt see it as problematic. As an austrian - this is scary stuff. There is a clarification shortly after, that this probably would not be targeted at european countries, but against countries and corporations who might buy russian energy. (Especially in rubel, i presume).
