HOW many Pinoys will be affected by the current falling economy of the European Union?
Perhaps it would help us to know how many of them in the whole European Union generally live as workers in various fields.
In Germany, there are 57,362 while in France, there are 150,000-200,000 and in The Netherlands, there are 14,000.
But all in all, bros, they’re playing for a million.
STOP, HALF OPERATION
Due to the high cost of oil, natural gas and other things used to run machines and electricity, factories and businesses in the EU are closing down.
Others are slowing down or halving operations or moving to the United States.
In The Netherlands, the operations of aluminum producer Aldel and fertilizer producer Yara have closed.
According to Rabobank said country, many more businesses will close such as chemical, paper, steel, rubber and plastic manufacturers.
Nicolas de Warren, president of Uniden, said that the products made in France can no longer compete with the price competition, so there is a fear of closing down or slowing down production.
Eurometaux says that many factories in various European countries have stopped producing aluminum, zinc, copper and nickel.
MOVING TO ANOTHER COUNTRY
In order not to be hit by extremely expensive energy, other countries such as the United States are already pouring large investments.
Germany’s Lufthansa airline has already invested hundreds of millions in the US, as has the giant Siemens.
Health care provider Fresenius and supermarket Aldi are also moving to the US.
The giant car companies BMW, Volkswagen and Merceds-Benz, son of tofu, are also building batteries for cars in the US and not in Europe which says that cars must be electric cars by the year 1935.
OVERSEAS FILIPINO WORKERS
There are certainly many overseas Filipino workers in Europe who are joining those who are closing, weakening and moving to the US and other countries.
Many OFWs also work as house cleaners or serve in hotels or as drivers for tourism and work in restaurants, transportation and entertainment.
They will definitely be affected such as losing their job or weakening their income in all the fields in which they live.
And what is painful is that their families who depend on their remittances will also be affected.
There are those who stop studying, stop renting houses and cars, get into debt and many others.
Even the public treasury will be affected by the weakening of their dollar and euro remittances.
OFWs’ 3.7 billion dollar remittances from Europe will surely drop.
MUST BE PREPARED
The 1M OFWs and their families must prepare for the crisis.
The government should also prepare to catch those who will lose their jobs and poor OFW families.
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