Europe is facing economic headwinds as the global energy crunch adds further pressure on squeezed national budgets. (CN) — European governments, already weighed down by hefty public debt and turbulence in bond markets, came under more economic stress Friday as inflation rose unexpectedly to 3.8% in September in the eurozone, driven by soaring fuel costs. On Friday, French President Emmanuel Macron called an emergency meeting of the Group of Seven nations, where they agreed to release 100 million barrels of diesel and other fuels from their strategic reserves over the next four months. Fuel prices are at record highs across Europe , prompting farmers, truckers and fishermen to hold protests and strikes. U.S.
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