Inadequate responses by Europe to the impact of Iran war

As the war with Iran, involving Israel and the US, escalates, governments in Europe appear to be underestimating its ongoing and future damaging economic impact. Already, the war has triggered much higher energy and related prices that are reducing real disposable incomes of households and raising business costs. Furthermore, the mounting structural damage to production and export terminal facilities in the Middle-East is most likely to diminish substantially the growth in the supply of fossil...