Truss’s term was ended last year when her largely unfunded mini-budget and tax cuts drove up borrowing costs, and mortgage rates and sent the pound plunging. This shattered Britain’s reputation
Europe is headed for recession as the cost of living crisis worsens
The eurozone is likely to enter a recession. Monday’s surveys showed that the cost of living is increasing and consumers are cautious about spending.
UK will be forced to buy back gas shipped to Europe for storage
After supplying approximately 15% of the supplies on the continent, Britain will have to purchase back the gas it exported to Europe.
No time to waste on Brexit: EU worried about Truss as UK new PM
Europe is anticipating Liz Truss’s potential as Britain’s next prime Minister with mixed emotions: Diplomats state that they don’t need another Brexit battle after the war in Ukraine, rampant inflation
UK Energy Bills Set to Peak Above £500 This Winter in January. This is more than three times the level of last year
As Russia tightens its grip on Europe’s gas supplies, the UK is set to experience record-breaking energy prices this winter. This will only add to Britain’s current cost-of-living crisis.
EU nations starting to echo the tensions that divided northern and southern member states
Russia’s gas cut could fracture the unity of Europe’s Union this winter, as tight budgets and supply issues limit the bloc’s ability to deal with an unexpected, severe energy shortage.