September 26, 2022

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Dear Energy, Russia is stopping gas and the European Union is fighting. Michel (Board): “The committee is behind.” Gentiloni: “Run the price cap” (useless now)

Great is confusion under the skyEuropean Union Then Gazprom announce it Stop For an indefinite period of supplies Gas to the European Union. Commissioner for Economic Affairs Paolo Gentiloni Da Cernobbio claims what has been done so far commission and the “turning point“represented by slots a price ceilingwhich, however, is still being discussed – energy ministers will talk about it on September 9 – and will arrive anyway FinishedNow that the streams are blocked. Meanwhile, the President of the European Council Charles Michel Attacks the executive branch of the European Union led by Ursula von der Leyenguilty according to him for not having timely intervened against Rising prices. Now it’s late: Simon TagliabitraSenior Fellow at the Thought Center BruegelAl . explains financial times The winter scenario with “zero Russian gas” must now be considered the most likely. There is only one way to prepare: reduce the demand for gas and electricity. This should be there priority The main policy of Europe.

“We have been discussing the energy crisis at the European Council since October,” he said in an interview. printing And other European newspapers, the Belgian politician who was the protagonist last year“sofagate” is embarrassing (During an official visit to Turkey, she sat next to President Erdogan while von der Leyen found herself forced to sit on the sofa because she was not provided with a seat.) “We have several times invited the Committee to submit suggestions Cement“. So, is the EU executive too late? As for the prices, yes. The council has asked her several times to submit proposals to curb the price hike. It is true that the argument between the leaders has been difficult and not everyone has the same opinion Ceiling price Or in the electricity market, but for this very reason We asked for a plan to take different points of view into account. In the face of citizens who pay for electricity at these levels, how can we justify what the big energy companies are doing Additional earnings? For the European Union, it is a matter credibility‘, adds Michel. ‘A Ideological debate over tools Not enough, the Commission must submit proposals with urgency: We can not afford luxury. luxury To wait weeks or months. We need suggestions now! “.

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There are proposals, answers Gentiloni remotely from the Entrepreneur Forum: “The Commission has done a lot in recent months, working to make the levels storage Which has now exceeded 80% in Europe, worked with Recommending a 15% reduction in energy use But today it is possible to do more because the wall of divisions that has halted the work of the Commission in recent months shows a lot breachesmany openings and I think it is important that the Chair of the Commission and the Group of Seven industrialized nations have taken parallel political decisions that will now be implemented in a legislative and operational manner to put a cap on the price of gas, versus oil price ceiling“.

is it enough? The President of the Council of the European Union portends a difficult autumn: “There are bad ingredients and we know that the cocktail can come out. Problems in supply chains , inflationAn increase in bills. This is why we must learn Lesson from the covid crisis. Working together we bought vaccines and on the economic front we created them surely and the recovery fund. We must be prepared, and I can assure you that the European Council will live up to its responsibilities. We will achieve that.”

Among the tools to use, Michel cites the infamous MES – “just the fact that it exists makes it a powerful tool because it is a signal to the markets. Even if it is not used, it is useful” – both surelyThe The European Union program granted to the member states loans through which national plans for . are financed Employment support. Italian Prime Minister Mario Draghi Request a reissue to deal with the new emergency. But Michel is not unbalanced in this matter: “I am not advocating a solution, we will see what we need. In October we will touch on the energy issue, but we will also exchange views on coordinating economic policies because we face the same difficulties in all countries. On the one hand, on the one hand , the need to invest in transforming our economic models, and on the other hand, to do everything possible to maintain Debts under control”.

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Regarding the fact that it is difficult to be credible and give an image of unity if it is a country like it Hungary Buying Russian gas while Moscow cuts off supplies to others, Michel replies that “Russia has been systematically trying to sow the seeds for some time.” tares And undermining European unity: we are used to it. We must stand firm and strive to preserve this unity that is the source of our strength. Divided we are weak, united we are strong. But to be strong, you also have to act fast.”