Wild World – Dr. Adrian Pabst Interview

... cheap money. This, coupled with low interest rates across the whole eurozone, fuelled credit and real estate bubbles in the USA and Europe, which burst in 2008-9 amid the global ‘credit crunch’. At first, this led to a pan-European banking ... ... reckless. Continued austerity for the next decade and perhaps longer will probably end any remaining hopes for both Nabucco and South Stream. But the energy battle between the EU and Russia over Nabucco and South Stream is a proxy conflict in a wider war ...