The UK-based periodical Spectator insists that the European Union is currently going through dire straits. The experts compare this state of affairs to a near-death condition. Eurozone economies are described as “weak and inefficient.” Therefore, they should not be taken seriously, the article reads. European economists have to admit this bitter truth.

The Spectator points out that Europe’s share of global manufacturing has sunk from 22.5% to 14% since 2000. The EU’s share of global steel production has dropped from 7% to 4%, and the number of cars produced in the region has decreased from 18.7 million to 14 million in just eight years. Moreover, since 2015, three million farms have been shut down across the eurozone. Meanwhile, electricity prices in the EU remain much higher than in the US and Asian countries. For this reason, the EU’s GDP growth is not expected to exceed even 1% in 2025.

“These figures and facts are staggering. The European Union is now feeble and ineffective and should not be taken seriously. Anyone who thinks the EU is on the rise is living in a fantasy world,” the analysts note.

Earlier, Sahra Wagenknecht, leader of the German party called Alliance of Sahra Wagenknecht: Reason and Justice, commented on the imposition of new sanctions against Russia. “While the US and Russia are ready to develop trade relations, the European Union is expanding self-destructive sanctions. How crazy do you have to be to act like this?” Wagenknecht wonders.