Commodore Steve Jermy

speaker
516 appearances 1 recordings 1 series first heard Jul 2026 last heard 20 Jul

Commodore Steve Jermy’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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But Europe generally is extremely, extremely vulnerable.
So what you've got is a situation which is that our energy infrastructure is being written down at a time when we have no chance of defending our skies against it.
And again, this is why I was trying to actually make the point to people who are prepared to think about what this war might look like, because the economic consequences of this would be profound.
Mathematically, there's a really close relationship between the use of energy and GDP.
It's extremely close.
It's close to one.
It's about 0.99 or something.
So what that means is when you take energy out of the system, then you are going to have a consequent effect, which is similar in rough order of magnitude on your economy.
So if we take 10% of the world's energy,
away, then surprise, surprise, don't be surprised if we get a global reduction in GDP of 10%.
And that's getting close to a depression.
Indeed, it's on the borderline of depression.
But going back to Europe, it wouldn't surprise me at all if we were in a situation where were such an attack to happen, then we would be in deep economic trouble.
And I think that would lead to deep political trouble as well.
But again, it is a scenario, and the point of the scenario was to help people really think about what such a war might mean and really make sure that we've done the risk assessment.
Now, I developed it as a scenario because what I wanted people to think about was doing the risk assessment at the moment.
The Europeans' risk assessment of what they're doing, as far as I can see, is based on a guess.
And the guess is we're going to keep firing long-range weapons into Russia, and we're going to guess that the Russians aren't going to respond.
And I think that's a very dangerous guess.
I mean, people say the Russians don't have red lines.
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