my dad posted:

I got directed that this thread might be a suitable place to post this, so...


In the recent years, Serbia's coal industry got hosed up pretty badly by various hazards and disasters, and our power production suffered pretty badly for it. As an added bonus, coal production this year is on the lower end of what could have been expected in the conditions. With the ongoing trade clusterfuck, we've started importing a lot of power, and it's likely that it's going to significantly escalate when winter hits. We're already experiencing major food price hikes, and the first signs of shortages of basic produce. (it's still not particularly bad, but you're starting to see things like all the stores in an area running out of milk mid-day, etc). The national power company is offering (additional) reduction of power bills for people who drop their power consumption by a certain percentage over the next few months, relative to their prior power spending, but the implication inbetween the lines is that the price is going to go up in general for everyone.

One of the options being brought up by our government (in a way that a lot of poo poo 'options' were brought up in before being implemented) is a loan from the IMF, in exchange for them getting to decide how our national power infrastructure is run. For ideas on what happens when IMF makes deals like that with countries in the Balkans, you are free to look at what happened in Greece.
The recent media storm about Kosovo fits this in nicely with the cycle of europe/nato making GBS threads on us out of nowhere, followed by our government puffing up as the world's greatest patriots who'd never do what the eu tells them, followed by some sort of loud deescalation broadcasted everywhere, and a quiet surrender of yet another part of our economy that never gets mentioned outside of the country and is heavily downplayed within it. Especially when I consider how laser-focused the EU was on loving with our energy sector ever since the war in Ukraine begun.


poo poo's gonna get ugly this winter. Very ugly. And if the IMF deal goes through, it's gonna stay ugly.

spankmeister posted:

neoliberalism is going to go for that old crutch, A U S T E R I T Y

Venomous posted:

sorry, did you say fascism? Because oh my God we're in for some loving fascism now!!!

bedpan posted:

the highest ideal of the liberal politician is to install literal fascists and call it a "sensible, moderate compromise"

Venomous posted:

ah yes, the Hindenburg Principle

spankmeister posted:

time to burn the rakija for fuel

Mans posted:

How many of you are excited to see left wing parties, labor unions and austerity protesters being labelled as putinist during the incoming winter?

spankmeister posted:

idk, the ones that keep waving DNR flags around and keep calling Ukraine nazis might deserve it?

Mans posted:

How many of you are excited to see left wing parties, labor unions and austerity protesters being labelled as putinist during the incoming winter?

ekuNNN posted:

I dont know in what country you are, but here in the Netherlands it is the fascists who support Putin
edit: and the left arent seen as supporting putin, important addition I guess

spankmeister posted:

idk, the ones that keep waving DNR flags around and keep calling Ukraine nazis might deserve it?

ekuNNN posted:

I dont know in what country you are, but here in the Netherlands it is the fascists who support Putin
edit: and the left arent seen as supporting putin, important addition I guess

Mans posted:

The last time we had an economic crisis, the entire periphery countries were labeled "GIPSI" and blamed for the entire debacle, you're seriously telling me that blaming this entire crisis on a third party (evil russia who made us voluntarily collapse our own economy) and their devious EU agents (anyone who doesn't agree with mass privatization and erosion of workers rights while losing 80% of their wages in rent and gas) isn't the most convenient and and obvious thing that will happen?

my dad posted:

poo poo's gonna get ugly this winter. Very ugly. And if the IMF deal goes through, it's gonna stay ugly.

Mans posted:

That won't matter when the austerity train comes knocking and the EU has to decide between sustainable and rationable economic \ diplomatic options or (once again) cannibalizing the working class.

You could be the most fluffy social democrat who hates evil Putin, the moment you start protesting, it won't matter.

The last time we had an economic crisis, the entire periphery countries were labeled "GIPSI" and blamed for the entire debacle, you're seriously telling me that blaming this entire crisis on a third party (evil russia who made us voluntarily collapse our own economy) and their devious EU agents (anyone who doesn't agree with mass privatization and erosion of workers rights while losing 80% of their wages in rent and gas) isn't the most convenient and and obvious thing that will happen?

ted hitler hunter posted:

https://twitter.com/ivan_8848/status/1565067553671626760

https://va.media.tumblr.com/tumblr_rhld41II391z0lvw3.mp4

ted hitler hunter posted:

https://twitter.com/ivan_8848/status/1565067553671626760

https://va.media.tumblr.com/tumblr_rhld41II391z0lvw3.mp4

FT posted:

Sweden announces emergency support for energy producers

Swedish PM Magdalena Andersson said Russia’s decision to close the Nordstream 1 pipeline could lead to a “war winter”

Sweden will give emergency liquidity support to electricity producers as its prime minister warned that Russia’s decision to halt gas deliveries to Europe could place its financial system under severe strain. Magdalena Andersson said on Saturday that the government would offer hundreds of billions of kroner in support to electricity producers. Andersson warned that, left unchecked, rising collateral demands for electricity producers could ripple through the main Nasdaq Clearing market in Stockholm and, in the worst case, spark a financial crisis.

Her remarks came after Russia said on Friday evening that it would no longer supply gas via the Nordstream 1 pipeline. That announcement came after energy markets had closed for the weekend. “Yesterday’s announcement not only risks leading to a ‘war winter’ but also threatens our financial stability,” Andersson said, standing alongside Sweden’s financial regulator, central bank governor and finance minister at an emergency press conference on Saturday. Shortly afterwards, Finnish finance minister Annika Saarikko said on Twitter that her country would also act. “The concern is shared. Similar preparations are already well underway in Finland,” Saarikko tweeted. The dramatic actions underscored the seriousness of the situation facing Europe as it scrambles to secure enough energy ahead of the winter and tries to avoid the spread of distress among electricity producers. Germany has already bailed out Uniper, one of the country’s biggest utilities, and its majority shareholder, Finnish energy group Fortum, has asked the government in Helsinki for support. Fortum warned on Monday that its collateral requirements had risen by €1bn to €5bn in the previous week, and that a default by a smaller player would cause “severe disturbances to the Nordic power system”.

Andersson said the support would apply to all Nordic and Baltic players, and would need approval by the Swedish parliament’s finance committee on Monday. “We need to isolate this in one market so it doesn’t infect the financial sector,” said Stefan Ingves, governor of the Riksbank, Sweden’s central bank. The Swedish authorities said they saw no immediate risk to financial stability, but were worried that otherwise-solvent companies could struggle to find enough liquidity, causing potential ripple effects. “Russia is waging an energy war against Europe to divide us. But we will not let Putin succeed,” Andersson said. Andersson’s comments come a week before parliamentary elections in Sweden with polls pointing to a tight outcome. She said her centre-left government stood ready to act, just as it did over the Covid-19 pandemic. Erik Thedéen, head of Sweden’s Financial Supervisory Authority, said power prices in Sweden had risen 11-fold in the past year, leading to a jump in collateral demands. He added that without liquidity support electricity producers could face bankruptcies and large losses that could lead to the collapse of the clearing house. “It is under very severe stress,” he said.

ted hitler hunter posted:

ekuNNN posted:

I dont know in what country you are, but here in the Netherlands it is the fascists who support Putin
edit: and the left arent seen as supporting putin, important addition I guess

lollontee posted:

when is serbia getting elections, and what's it looking like?

Doktor Avalanche posted:

waging an energy war = not selling to your enemy

Ghost Leviathan posted:

this is your brain on capitalism

Honestly it seems more that westerners literally cannot conceive of post-Soviet Russia and China being anything other than subject states who exist in a state of at best de facto colonisation and exist to provide cheap labour and resources, and the idea that they have actual leverage is a source of constant confusion and rage as they cannot internalise this

Ghost Leviathan posted:

this is your brain on capitalism

Honestly it seems more that westerners literally cannot conceive of post-Soviet Russia and China being anything other than subject states who exist in a state of at best de facto colonisation and exist to provide cheap labour and resources, and the idea that they have actual leverage is a source of constant confusion and rage as they cannot internalise this

mortons stork posted:

i would bet that the higher ups know the deal.