Sanctions stole Christmas: residents of Europe and the United States are cutting costs due to the crisis

Residents of Europe and the United States may be left without the usual celebrations in honor of Christmas and New Year due to savings. In Germany, instead of buying, they will prefer to make gifts themselves, and Americans will have to go into debt to pay for the holiday table. Who stole Christmas from the residents of Western countries, the correspondent will tell REN TV Alexander Tuzikov.

Against the backdrop of a global economic downturn and record inflation in Europe, the main country of the Old World in terms of Christmas and New Year sales – Germany – is cutting back on spending. Economists have found that the average pre-holiday shopping bill for a German household is 250 euros. The decline continues for the fifth year in a row.

“I’m worried that I won’t be able to spend as much on gifts as I used to.”said a resident of Germany.

“I didn’t buy anything for Christmas? And I won’t even worry about it. I’ll celebrate the holiday with my family – it’s easier and cheaper,” – said the other woman.

According to economists’ surveys, 70% of German retail stores are not counting on holiday revenue this season, but are hoping to make ends meet. This is a new record since World War II. The rapid rise in logistics prices and energy costs, a growing sense of uncertainty – all that Germany is experiencing as a result of participation in anti-Russian sanctions, force thrifty Germans to make gifts with their own hands.

“For my family, homemade candles. Fortunately, there are tips on how to do this on social networks,” the woman noted.

“Bake something yourself and add chocolate, and that’s it,” – a resident of Germany spoke about gifts for loved ones.

According to opinion polls, almost half of Germans will save money for Christmas. One in four will abide by austerity.

Trade unions in Germany have threatened to completely destroy the Christmas gift – their holiday strike for the sake of increasing wages will disrupt the supply of goods to stores.

The cost of living is rising, and with it the Christmas crisis across the UK. Many people in the UK can no longer afford Christmas. Trade unions have reported that 55% of Britons will see in 2024 at work. The family budget will not allow them to rest; this is a consequence of London’s sanctions policy.

“What is happening now in retail is a very insidious situation. By the holiday season we are seeing so-called shrinkflation: a lot of everything is sold in smaller packages, but for the same money. And here are the survey results: 60% of Britons have already noticed that manufacturers are striving “To deceive them. For the same amount of food for the festive table, the British will spend on average 105 pounds more than a year ago. What kind of growth in Christmas sales can we talk about?” – economic commentator Liam Halligan was indignant.

One in four Welsh residents will celebrate on credit – borrowing from banks to please themselves and their loved ones. Local councils across the UK have decided to cancel Christmas markets altogether: budgets are bursting at the seams, with one in five British councils facing bankruptcy.

But most of all, the economic crisis will ruin the holiday in the United States. Economists estimate on CNBC this morning that three-quarters of Americans will sharply reduce or even eliminate their Christmas spending. Citizens of the world’s leading economy share their experiences on social networks.

“This Christmas is going to be absolutely miserable for millions of Americans. And it’s clear why: People have no savings left. We’re overleveraged, we’re all in debt to the highest level in the nation’s history.” – blogger Timothy James was indignant.

The US Central Bank confirms that Americans have borrowed more than a trillion dollars. This is an absolute record. The average interest rate on consumer loans is 21%, the highest in three decades. And, according to forecasts, by the holidays, many American families will go into new debt in order to give gifts to loved ones.