In what can only be described as a self-inflicted wound, Europe's economic crisis, as evidenced by the latest figures, is a direct result of excessive regulatory intervention under the banner of climate action.

Consumer inflation expectations have escalated, with the European Central Bank (ECB) survey showing an anticipated rise to 2.6% over the next year from October's 2.5%, and a three-year forecast now at 2.4% from 2.1%. This inflationary pressure is a clear consequence of policies that prioritize regulation over market dynamics.

Despite a modest expected increase in consumer income by 1.1% in the coming year, the economic landscape is darkening. The same survey predicts a GDP contraction of 1.3%, a slight worsening from the previous month's 1.1% forecast, alongside an unemployment rate expected to hit 10.6% from 10.4%. Nominal spending growth is set to rise to 3.5%, up from 3.3%, indicating that any income gains will be quickly outpaced by inflation.

From a libertarian perspective, these numbers paint a picture of a region that has ignored the warnings about the perils of stifling market freedom with bureaucratic red tape. The economic downturn, coupled with political tensions seen in countries like the UK and France, underscores a crisis that is not merely economic but fundamentally policy-driven.

The data doesn't lie; Europe's economic woes are a direct byproduct of its own regulatory excesses.