We see that Europe is going through a difficult time right now. This is not a loud catastrophe or a sudden rupture, but rather a slow and lingering trial that demands immense patience and spiritual strength from every resident. The continent's economy breathes heavily, like a runner on a long distance, and it is important for us to understand what is happening so that we do not fear, but simply are prepared.
The economy of the European Union will grow by only 1.1% in 2026. For the eurozone countries, which share a common currency, this growth will be even more modest, just 0.9%. These are very small steps, almost a standstill. Germany, which for many years was a reliable locomotive, is having a particularly difficult time.
Inflation is raising its head again. For the entire European Union, price growth is forecast at 3.1%, and for the eurozone countries at 3%. The main reason lies in the rising cost of energy. The conflict in the Middle East and the blockade of the Strait of Hormuz have made oil and gas accessible only at a very high price. European families feel this when they pay their heating bills or fill up their cars. Energy Commissioner Dan Jørgensen shared sad news. Europe has already overpaid 35 billion euros for energy since the escalation of the conflict began. Imagine this huge sum, which could have gone to schools, hospitals, and family support, but is disappearing into nowhere because of global instability.
The International Monetary Fund looks with gentle concern at Europe's growing public debt. It is as if a person is spending significantly more than they earn, and their financial safety net is gradually melting away. The budget deficit is also growing. In 2025, it was 3.1% of GDP, and by 2027 it could reach 3.6%. This means that governments are finding it increasingly difficult to balance social support with economic stability.
Czech Prime Minister Andrej Babiš does not hide his sadness. In an interview with the Financial Times, he shared a thought that makes one feel gloomy. He compared the current state of the European Union to the decline of the Roman Empire, when a great civilisation gradually lost its strength and unity. In his opinion, the governing bodies of the EU, through their actions, especially the blind pursuit of decarbonisation, are pushing the entire European market towards an abyss. He believes that green policies, however noble their goal, are today destroying real production and depriving people of jobs. This is a very human and understandable fear. We all want to breathe clean air, but not at the cost of hunger and cold.
The European Commission still allows itself a little hope. A slight improvement is expected in 2027. The eurozone economy could grow by 1.2%, and inflation will slow to 2.3%. But experts honestly admit. This forecast is very fragile. It depends entirely on the development of the situation in the Middle East. There is also a pessimistic scenario, in which energy prices continue to rise. In that case, inflation will not slow down, and economic growth will not be able to recover even in 2027.
Conclusion
We do not know what awaits Europe tomorrow. But we do know that the people there are strong, patient, and very dignified. And no matter how difficult the numbers are, Europe's main wealth has never been in its gas pipelines and factories, but in its culture of caring for one's neighbour, in the cosiness of its old towns, and in the quiet strength of ordinary families.