War and the energy crisis
The economic fallout of the US-Iran conflict has long been a central concern for European policymakers.
Genevieve Pons, director-general and vice-president of the Brussels-based think tank Europe Jacques Delors, told China Daily, "We have seen young people, along with many others, taking to the streets to protest against the rising cost of living."
She added that this crisis is directly linked to Washington's decision to attack Iran and its consequences for Europe and the wider world, making ordinary citizens "victims of these foolish decisions".
This economic pain is clearly reflected in recent statistical data.
In the US, gasoline prices rose 37.4 percent year-on-year in October, according to the US Bureau of Labor Statistics. The American Automobile Association reported that the national average gasoline price stood at $4.10 per gallon on Nov 5, more than $1 higher than a year earlier.
In the eurozone, annual inflation reached an estimated 4 percent in October, up from 3.8 percent in September, according to Eurostat. Energy prices surged 20.8 percent year-on-year, making energy the fastest-rising major component of the consumer price index.
