The Kobeissi Letter|Sep 18, 2026 16:34
The 2020s are arguably one of the worst decades for Europe in modern history.
It began with the pandemic lockdowns which contracted GDP by -6.1% across the EU, the biggest drawdown since the 1930s.
This was followed by the Ukraine War which began the ongoing energy crisis.
Then, the AI Revolution began in 2022, in which Europe has fallen significantly behind the US and China.
Between 2020 and 2025, the US deployed roughly ~$500 billion of venture capital into AI compared to just ~$50 billion in Europe.
Europe was then hit by the highest tariffs in US history, impacting $600+ billion of annual European exports to the US.
Now, the Iran War has pushed Europe into its worst energy crisis ever, with central banks being forced to raise interest rates.
The 2020s will be remembered as one of Europe's most disruptive decades in history.
Share To
Timeline
HotFlash
APP
X
Telegram
CopyLink