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Giving up gas imports from Russia, which account for 36% of total EU gas supply, will not be easy for Europe. We estimate the amount of energy at risk across the EU at almost 10% of final consumption.
The escalation of the conflict between Russia and the Ukraine is likely to have important economic and financial consequences through three main transmission channels — energy, trade, and the financial sector — depending how current and future sanctions will play out.
Is the middle class shrinking? The data suggest a heterogeneous picture, but genuine success stories are rare: In most countries, the situation of the middle class has deteriorated, especially with regard to its share of total wealth.