imweber3_Stefan Sauerpicture alliance via Getty Images_gaseurope Stefan Sauer/picture alliance via Getty Images

Can Europe Weather Looming Gas Shortages?

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While Europeans debate whether they could manage without Russian gas, and at what cost, much less has been said about how to prepare for gas shortages if Russia takes it upon itself to close the taps. The inevitable severe gas shortages would demand a comprehensive policy response – which should start now.

BERLIN – What would a stop on Russian gas imports mean for European economies? The question sharply divides economists. Everyone agrees that there would be negative consequences, but how bad? Predictions range from a mild recession to economic disaster and mass unemployment.

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