Will Europe wake up to energy?
It has already happened against the pandemic that Europe has joined forces. It is hard to see why the 27 countries should not repeat themselves against the gas crisis, taking on the heaviest economic damage of this endless war all together. Federico Guiglia's notebook
The moment is historic, and there is no rhetoric in acknowledging it: the European Council of 27 heads of state and government gives the green light to the "status of candidate country" of Ukraine and Moldova (and the prospect of Georgia) to their entry into the EU. The road will be long and complicated, but the first and most important step has been taken.
But there is no time to celebrate, exactly four months after the start of Putin's war on February 24. With its "collateral damage" in Europe, as the serious economic repercussions are cataloged with a military expression: increase in electricity and gas, higher food prices. And then inflation and forecasts of a falling GDP. Growth slowed down by the war.
Italian families and businesses are already in trouble due to the prices that fly and are preparing for an autumn that the energy crisis could make the coldest in recent years, and not because of climate change. Heating at risk and reduced consumption is another danger for the economy, because soon it will be necessary to deal with the political blackmail of Moscow, the gas supplier. Without our country having the time to find alternative sources of the same level in procurement, even though it is already committed to researching them at home and in the world.
The cost of energy, therefore. A risk well known by Western governments (“gas is now a scarce resource in Germany”, announces the German Minister of Economy, Robert Habeck) and above all by our Prime Minister, Mario Draghi. Which has long been urging the European Union to set a ceiling on the price of gas precisely in order to no longer submit to the threatening wishes of Russia. And that now could be satisfied: at the current European Council the Italian proposal for an extraordinary summit in July entirely dedicated to energy takes shape. Where Draghi, backed by French President Emmanuel Macron, would also count on proposing a recovery plan on the matter with common debts and investments.
It has already happened against the pandemic that Europe has joined forces. It is hard to see why the 27 countries should not repeat themselves against the gas crisis, taking on the heaviest economic damage of this endless war all together.
A damage that can even become an opportunity, if the EU is able to take an autonomous energy path, the keystone of its economic and political independence.
(Article published in L'Arena di Verona and Il Giornale di Vicenza)
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/leuropa-si-svegliera-sullenergia/ on Sun, 26 Jun 2022 05:26:00 +0000.