Belgian Prime Minister Alexander De Croo warned that Europe must act immediately to tackle the energy crisis or there is a risk of an underlying economic crisis from which the bloc would struggle to recover.
During an interview with Bloomberg News, De Croo warned:
“The risk is deindustrialization and therefore the threat of serious and radical social unrest”.
Like many other EU leaders, who are rapidly diverging from the Brussels bureaucrats on the path to follow, the Belgian leader warns against unilateral action against Russia, urging others to do something else, which is not necessarily right:
“Honestly, I see no choice but to intervene on the market ,” said De Croo.
“We don't have a second chance to show, like 450 million Europeans, that we take matters into our own hands. What we are witnessing today is a massive drain of prosperity from the European Union ” .
Specifically, the Belgian federal government is asking to introduce large price caps on gas markets, rather than just on Russian imports, "because Vladimir Putin has already said he will stop selling gas ".
" What we are witnessing today is a massive drain of prosperity from the European Union ," concluded De Cross.
" A ceiling on Russian gas alone is a purely political objective ", the Belgian Energy Minister reiterated, adding that Belgium " will not agree" because it does not see "an added value in this ".
Regarding the security of gas and electricity supplies this winter, De Croo reassured his citizens that Belgium will fare well, even though he forgot to say how this will happen, but he clearly said that other countries may not.
however, De Cross is wrong with the generalized price ceiling because, simply, exporting countries may not accept it and may not sell natural gas, which is in any case highly desired on world markets. The only way to be able to set a ceiling on the price of gas for all countries is, trivially, NOT to need it, that is, to be able to obtain supplies from other sources or produce it on the domestic market. Since this does not happen, De Croo's words are also based on an illusion no less dangerous than that of Von Der Leyen. Except that the Belgian Prime Minister did not refer exclusively to the Dutch neighbors….
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/rischiamo-disordini-e-deindustrializzazione-il-primo-ministro-belga-ha-paura-ma-la-sua-cura-non-sara-efficace/ on Sun, 11 Sep 2022 16:26:35 +0000.