Europe is experiencing an extremely dry summer. Against the backdrop of scarce rainfall and extreme heat, wildfires are already frequent from Scotland to Greece. Today, due to lack of rainfall, parts of the Danube and Rhine have shrunk into trickles, threatening industries that have long depended on these wide waterways. The most significant impact is being felt on the Danube, where water levels have dropped drastically, and even remnants of World War II bombs and older mammoth skeletons have been revealed. Some nuclear power plants are unable to operate cooling systems because the water level is too low. In Romania, one of the two reactors at the Chernavod nuclear power plant has been shut down. The military recently detonated explosives and plans to use this to divert more river water from another channel to the nuclear power plant. In Hungary, three of the four reactors at the country's only nuclear power plant have been shut down because there isn't enough water in the river to keep it cool. The Pakshi nuclear power plant usually accounts for 40% of the country's electricity generation. Last week, the water level of the Danube River in Hungary fell to its lowest level on record. As temperatures are expected to rise above 100 degrees Fahrenheit this week, Hungarian Prime Minister Peter Mauger said on social media on Monday: “The five hardest days are coming.” The power outage has exacerbated the economic problems already faced by Majoor, who is under pressure to reduce his fiscal deficit and promote economic growth. William Jackson, chief emerging market economist at KITU Macro, said that the protracted energy crisis may force the government to increase financial support for the power industry and hinder investment in manufacturing. “If there are concerns about energy reliability, this is likely to influence investment decisions,” he said.

Europe is experiencing an extremely dry summer. Against the backdrop of scarce rainfall and extreme heat, wildfires are already frequent from Scotland to Greece. Today, due to lack of rainfall, parts of the Danube and Rhine have shrunk into trickles, threatening industries that have long depended on these wide waterways. The most significant impact is being felt on the Danube, where water levels have dropped drastically, and even remnants of World War II bombs and older mammoth skeletons have been revealed. Some nuclear power plants are unable to operate cooling systems because the water level is too low. In Romania, one of the two reactors at the Chernavod nuclear power plant has been shut down. The military recently detonated explosives and plans to use this to divert more river water from another channel to the nuclear power plant. In Hungary, three of the four reactors at the country's only nuclear power plant have been shut down because there isn't enough water in the river to keep it cool. The Pakshi nuclear power plant usually accounts for 40% of the country's electricity generation. Last week, the water level of the Danube River in Hungary fell to its lowest level on record. As temperatures are expected to rise above 100 degrees Fahrenheit this week, Hungarian Prime Minister Peter Mauger said on social media on Monday: “The five hardest days are coming.” The power outage has exacerbated the economic problems already faced by Majoor, who is under pressure to reduce his fiscal deficit and promote economic growth. William Jackson, chief emerging market economist at KITU Macro, said that the protracted energy crisis may force the government to increase financial support for the power industry and hinder investment in manufacturing. “If there are concerns about energy reliability, this is likely to influence investment decisions,” he said.