Russia’s invasion of Ukraine has sparked an economic crisis throughout Europe. Supply chain concerns and a surge in energy prices have led to rampant inflation across the continent. Despite historic high price rises, the European Central Bank has yet to take interest rates out of negative territory where they have been for around a decade. Russia’s invasion of Ukraine is generating fresh headwinds that will choke the European economy, reveal official forecasts published today. Surging energy prices caused by concerns over supply security following Moscow sending troops into Ukraine are set to strain households and businesses on the Continent. High input prices are likely to weigh on production, while elevated living costs will push spending lower than first expected. Weaker projected activity levels led the European Commission today to downgrade its forecasts for growth in the bloc to 2.7 percent this year from four percent just a few months […]