NewsEconomicsDrought, the economic impact on Europe: this is how...

Drought, the economic impact on Europe: this is how the crisis worsens

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Not only war in Ukraine, renunciation of Russian gas, galloping inflation and aggressive ECB policy: the economic crisis in Europe also has another matrix, drought. If it is true, in fact, that climate change is upsetting the territories, it is precisely the extraordinary aridity and record scorching heat that are leaving their mark: the rivers of the old continent are drying up. Climate change correlation with the economy: The Rhine, for centuries a pillar of the German, Dutch and Swiss economies, is set to become impassable, hindering diesel and coal loads. The Danube is also clogged, putting the grain trade at risk. France’s energy crisis has also worsened because the Rhone and Garonne are too hot to effectively cool nuclear reactors and the Italian Po is too low to irrigate rice fields. The continent’s rivers and canals carry more than 1 tonne of goods per year for every EU resident and contribute around $ 80 billion to the region’s economy as a transport route. The alarm is widespread, as Money.it reminds us. In the Po Valley, home to about 30% of the country’s agricultural production, the scorching heat and exceptionally dry conditions damaged maize and sunflower production and forced rice farmers to cut plantations after the Po fell to lowest level in 70 years. The bitter irony is that waterways are a key part of the EU’s efforts to combat climate change. In its green transition plans, the European Commission is aiming for a 25% increase in inland waterway and short distance sea transport by 2030. Given the current environment, Europe could really miss the ecological and recovery challenges economic over the next few years.

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