Green protectionism will take Europe down

The economic crisis will extend in Europe thanks to the environmental regulations. 

European Union’s environmental regulations serve the special interest groups, while not increase the quality of natural environment, points out the Globalization Institute in it’s Monday’s press release. 

Meanwhile, the economic protectionism may plunge the weak European economies even deeper in recession. In opinion of the Globalization Institute, the European Union goes on economic war with the rest of the World, based on the parascientific man-made global warming hypothesis. 

- It’s probably a reaction after the collapse of global greenhouse gas reduction agreement during last UN’s Climate Summit in Durban, explains dr. Tomasz Teluk, president of the Globalization Institute. – Fiasco of that venture, which intended to favor European companies, made the Brussels bureaucrats frustrated, he adds. 

Protectionist practices are seen in many markets. One of them is fine-coated paper market, where the new tariffs were recently introduced. Another one is biofuels market, where new EU regulations discriminate competitors from the non-EU countries. 

The new climate change regulations discriminate imports of the ecological energy sources from abroad, despite the fact they obey the environmental standards. The new international dispute is between the EU and Canada, and revolve around oil sands and shale. 

There is also new conflict with the International Civil Aviation Organization. Since January 1st, the flight companies must pay additional tax for the CO2 emission into atmosphere, what is part of the EU climate policy. Paradoxically, the new burden covers also flights outside the EU. As a result of the new regulation, the flight tickets’ prices will increase by few to few dozens Euros. 

Globalization Institute claims that green protectionism will badly influence the European economy. New taxes and lower competitiveness of the domestic markets, will inevitably cause higher prices for the customers. We can also expect higher rate of bankruptcy, increase of unemployment, larger public debt, and decrease of GDP growth in Europe. All those factors will only increase the current problems Europe faces.