Eurozone interest rates have skyrocketed amid high inflation and preposterous spending on its proxy war in Ukraine, the EU is edging closer to a devastating recession.

Multiple crises are making it difficult for the European Union to finance new projects. The crises include the conflict in Ukraine, migration and energy supply shortages as well as rising energy costs.

As the war in Ukraine continues, the West is taking measures to expand NATO, spearheaded by the United States, stoking the flames of war.