Sri Lanka Begging Russia and India for Fuel: A Nation Wrecked by Green Agricultural Policies

Essay by Eric Worrall

As Dutch police shoot at the children of farmers in the Netherlands, it is worth reviewing where lunatic green agricultural policies can lead.

An entire nation, down to less than 10,000 tons of fuel, because their insane organic farming policy bankrupted their agricultural sector, triggering a collapse in foreign currency reserves.

Anyone who thinks this can’t happen to Europe, think again. Europe is experiencing inflation because of the haemorrhage of foreign currency reserves, as European leaders try to maintain energy supplies they refuse to source domestically. The need to purchase expensive energy from outside the EU is driving down the value of the Euro, which is driving up European inflationary pressures.

Could the European situation get worse? Maybe. European nations have stronger economies than Sri Lanka, but no economy is impervious to political insanity, as Europe learned in the 20th century. Insane nitrate policies pursued by the Netherlands and other EU policies are threatening the productivity of the European agricultural sector. It was the haemorrhage of foreign currency reserves following Sri Lanka’s green agricultural fail which was the final straw which collapsed the Sri Lankan economy.

What happened to Sri Lanka was very sudden, the disaster occurred with little warning. One moment everything seemed fine, other than a few economists sounding alarms which were widely ignored, then everything abruptly went to hell, as the nation ran out of foreign currency and stopped paying international supplier invoices. The Sri Lanka government exhausted public foreign currency reserves trying to keep up the pretence of normality, until they ran out of foreign currency, and could no longer maintain the pretence.

Would European governments admit if they had such problems, or would they conceal their problems as long as possible, like the Sri Lankan government did? Do you trust your politicians to tell the truth? Which European nation will be the next Sri Lanka? Who will run out of money first? The Netherlands? Spain? Italy? Ireland? Maybe even Germany?

As Sri Lanka has proven, it is entirely possible for green stupidity to trigger a near total economic collapse. In my opinion economically ignorant EU leaders seem determined to follow Sri Lanka’s example, and create a Sri Lanka style foreign currency reserve crisis in Europe.

via Watts Up With That?

July 7, 2022 at 09:04PM

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