Eric Heymann, a senior economist at Deutsche Bank Research, warns that Europe's Green Deal and its goal of climate neutrality by 2050 threatens a European mega-crisis, leading to "noticeable loss of welfare and jobs". And he warns: It won't work without "a certain degree of eco-dictatorship".
The analyst describes it as dubious that the Green Deal is being touted across the board as "a new growth strategy" which would allow the EU to become a "fair and prosperous society." While this may look good on paper, Heymann writes, in order to achieve carbon neutral by 2050, Europe's economy and its entire political and legal systems will have to be changed fundamentally.
For the time being, the revolutionary consequences of the EU's climate agenda for everyday life are "still relatively abstract" and for most households "still acceptable." Soon, however, the path towards climate neutrality will require drastic interventions in the choice of means of transport, the size of housing, the means of heating, the possession of electronic consumer goods, as well as restrictions in the consumption of meat and tropical fruits.
Comment: How dare a member of Deutsche Bank ask some reasonable questions and point out a few (of the many) big problems the Green New Deal is likely to present going forward. Which side is he on anyway!?
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