Rising Energy Prices Could Fuel Social Unrest Across Europe This Winter

LONDON–Europe’s wealthiest nations face rising risks of civil unrest over the winter, including street protests and demonstrations, due to high energy prices and mounting costs of living, according to a risk consultancy firm.

Both Norway and Germany are among the advanced economies that have been affected by labor-related disruptions, Verisk Maplecroft principal analyst Torbjorn Soltvedt explained to Reuters.

Verisk’s most recent report on the civil unrest index showed that more than 50% of almost 200 covered countries experienced an increase of mass mobilizations risk in the second quarter of 2022,, the biggest number of nations since the index was released in 2016..

According to Friday’s report, the Netherlands and Bosnia-Herzegovina were the top three countries at risk of a significant increase in their vulnerability.

” “It wouldn’t surprise that some developed countries in Europe begin to experience more severe forms of civil unrest over the winter,” Soltvedt stated.

Ukraine has been at war with Russia since February. 24 This has led to a sharp rise in food costs, reaching an all-time high in February and March. Europe was also affected by the sharp rise in energy prices.

” We still have some fallout from COVID pandemic, which has already caused supply chain disruptions,” Jimena Blanco chief analyst said.

Rapidly rising energy and food prices have been caused by severe droughts in some parts of the globe.

The report reveals that the rising prices of staple food products is responsible for the increase in violent protests and peaceful movements.

Mauritius and Ukraine experienced the greatest increase in social unrest during the third quarter of 2012 compared to the second quarter. Russia was in seventh place, while Norway was in thirteenth.

By Jorgelina do Rosario