European Banks Brace For Energy Rations That Could Threaten Financial System, Rush To Test Diesel-Fueled Backup Generators | Eastern North Carolina Now | European banks have conducted stress tests complete with backup generators and dimmed lights to determine whether their operations will be impacted by energy rationing, according to a Wednesday report from Reuters.

Coronavirus Disease 2019 (COVID-19)
    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Ben Zeisloft.

    European banks have conducted stress tests complete with backup generators and dimmed lights to determine whether their operations will be impacted by energy rationing, according to a Wednesday report from Reuters.

    The move comes after Russia cut off natural gas shipments through the Nord Stream 1 pipeline until Western powers roll back sanctions on the nation's petroleum products. As the European Union scrambles to address energy shortages while natural gas prices increase more than tenfold compared to normal levels, European Commission President Ursula von der Leyen announced on Wednesday that her government would propose a "mandatory target" for reducing electricity consumption during peak demand.

    Leading banks, many of which facilitate transactions crucial to the European economy, are therefore conducting stress tests to determine the possible impact of rationed power supplies.

    One person familiar with operations at JPMorgan Chase, which employs thousands in London and Frankfurt, told Reuters that the company has carried out power outage simulations and could use diesel generators to keep offices running for multiple days.

    Another source told the outlet that UniCredit, the second-largest bank in Italy, tested the resilience of its data processing amid low power supplies. Meanwhile, Euronext - which runs the Italian and French stock exchanges - said it had re-evaluated its energy consumption and possesses backup generators. Swiss company Zurich Insurance Group is darkening offices and turning off "decorative power consumers," such as fountains.

    Deutsche Bank is likewise switching off hot running water in bathrooms, adjusting workplace temperatures, powering down interior branch lighting and illuminated outdoor advertising at night, and shuttering the fountain outside its office in Frankfurt.

    "Additional measures that can be taken should the energy situation worsen include using only certain floors of the buildings, and the shutdown of certain services such as the employee gym," the insurer told Reuters.

    Several nations have already implemented energy usage restrictions or warned that such policies could be necessary for the coming months. While the legislature of Spain mandated that public air conditioning be set no lower than 27 degrees Celsius - roughly 80.6 degrees Fahrenheit - through the summer, French President Emmanuel Macron called for a 10% voluntary reduction in the nation's power usage to avoid "last resort" consumption limits.

    British Prime Minister Liz Truss, who succeeded fellow Conservative Party lawmaker Boris Johnson on Tuesday, is proposing stimulus packages for companies and businesses contending with high power expenses. "We will get spades in the ground to make sure people are not facing unaffordable energy bills. ... I will deal hands-on with the energy crisis caused by Putin's war," Truss remarked in her first speech as head of government. "I will take action this week to deal with energy bills and to secure our future energy supply."

    The European Union has adopted the official policy of becoming "a climate-neutral society" by 2050 in accordance with the European Green Deal and the Paris Agreement. Although some critics have pointed to the continent's rapid transition toward renewable energy as a factor behind low power supplies, von der Leyen - acknowledging that hydroelectric capacity has severely diminished amid drought conditions - called for "massive investments" into green power sources.

    "The renewables are cheap, they are home-grown, they make us independent," she said. "The renewables are really our energy insurance for the future."

poll#162
In what may be the most divisive period in modern American History, even more divisive than the turbulent sixties due to today's lack of patriotism, consider what are the major catalysts causing so much of this calamity of conflict, and vote: What most instigates the division of America, on this day September 20, 2022?
  Racism within our society
  Sex realignment to the detriment of our society.
  Biden /Harris Wide Open Southern Border Policy for the Demographic Upheaval of OUR Constitutional Republic
  Rampant Crime in Democratic controlled cities, and the possible contagion elsewhere
  Covid Pandemic, and its mishandling at the political, and bureaucratic levels.
  The unresolved questions /allegation regarding the flawed 2020 General Election
  January 6th Riot or "Armed Insurrection", depending upon patriotic perspective
  Joe Biden as Divisive Leader; Ineffective and Corrupt Executive
  Failed Education Industry, from an overall perspective, regarding all levels of education.
  Propagandistic Media in complete conflict with the First Amendment's guarantee of Freedom of Speech, and the awesome responsibility of a Free Press..
  "Orangeman Bad!"
  Bureaucracy rushing to a behemoth size, its unjustified expense, and far too often overreach.
  The Weaponized Deep State for political purposes
  A secular ambivalence to all that is real.
  Record number of overdose deaths from opioids and now Fentanyl
  Biden Administration's disastrous Foreign Policy
  Bidenflation /supply chain failure inevitably evolving into stagflation and recession.
  "Ultra MAGA Extremists" freely speaking louder AND LOUDER!
684 total vote(s)     What's your Opinion?


poll#132
Considering that Joe Biden is considered by so many to be the Imposter President: Is he actually knowledgeable enough, wise enough, patriotic enough to be this Constitutional Republic's president at this difficult point in these tumultuous times?
  Yes, Mr. Biden is thoughtful and kind, and just so different from the "Orange Man".
  No, this representation of "president" is either too corrupt, too stupid, or both to be a real president.
  I just want the fun guy, who knew how to make stuff work back.
647 total vote(s)     What's your Opinion?

Go Back

HbAD0

Latest Op-Ed & Politics

Acomplaint filed with the State Board of Elections this week alleges that the Neighbors on Call Political Action Committee is taking in-kind contributions from the state Democratic Party that exceed the limits set by campaign finance laws.
A California district superintendent recently announced that a high school football team was no longer allowed to display the Thin Blue Line at its games, but that didn’t stop Saugus High School players.
More sever penalties for those who profit from drugs are needed
Babylon Bee CEO Seth Dillon revealed that the Christian satire outlet ultimately gained a broader audience by refusing to delete a post that caused the former management of Twitter to shutter its account.
The United States' soccer match against England ended in a tie, handing the U.S. team victory as the country which last beat the other in a war wins the tiebreaker.
The Biden administration is close to granting a license to Chevron to resume pumping oil in Venezuela, following previous reporting that President Joe Biden would ease sanctions on the socialist country to allow the U.S. oil company to continue production.

HbAD1

As inflation comes home to roost for many American families preparing to celebrate Thanksgiving, leadership at one of the largest poultry producers in the nation is denying that households will shift from turkey to other alternatives.
N.C. State Treasurer Dale Folwell discussed issues surrounding several towns in the state Tuesday during his monthly “Ask Me Anything” virtual press conference.
Elon Musk may release information on Twitter’s internal discussions regarding censorship of stories about Hunter Biden’s laptop prior to the 2020 election, the newly-established CEO suggested Wednesday.
A new Civitas Poll of North Carolina parents has new information on their views of teachers and what is happening in the classroom
Disney fired CEO Bob Chapek in a dramatic development Sunday, bringing back its former boss and ending a disastrous tenure that saw the entertainment giant become a value-hemorrhaging caricature of wokeness.
A local retailer is making waves after announcing its most dramatic Black Friday sale ever, in which every item in the store is marked down to whatever the price was before Biden became President.

HbAD2

Readers know that when you watch CBS News, much of what you see is spin, but a report regarding Hunter Biden’s infamous laptop from the legacy media network on Monday really takes the cake.

HbAD3

 
Back to Top