Will the EU's energy plans work?
Friday, 23 September 2022
Hello Future is blue readers,
Policy preparations for Europe's most complicated winter are under way. EU countries have approved a number of measures in the last few weeks to guarantee energy supplies and support private consumers and businesses to cope with expensive bills.
We don't blame you if you are struggling to put together all that the EU has announced recently to deal with the energy crisis. Let's face it: It's complicated. To try get some clarity we have reached out to Miguel Gil Tertre, Chief Economist at the Directorate General for Energy at the European Commission. Miguel, a high profile public servant, has joined our new podcast episode together with Raymond Torres, Funcas Europe Director, and Carlos Carnicero Urabayen, Future is blue host. More details below.
At the end, as usual, don't miss some of the readings that have captured our attention in the last days.
New podcast available!
Today's podcast episode features Miguel Gil Tertre, together with Raymond Torres and our host Carlos Carnicero Urabayen, analysing the key measures that the EU has put together in order to confront one of its most complicated winter seasons. In our new podcast we cover:
- A brief reminder of the latest EU decisions or announcements concerning energy markets
- To what extent will these measures appease inflationary pressures?
- Is a recession in the EU unavoidable, in light of the trends in gas markets?
- What are the key areas where further progress is needed in order for the EU to reach the goal of strategic autonomy with respect to energy?
Don't miss our latest podcast where we touch on these issues and others in little more than 20 minutes.
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What we are reading
Tackling inflation: learning from the European Central Bank's six lapses
While mistakes unduly constrained rate hikes, gradual tightening is the right approach along with a new instrument to address energy bottlenecks.
Energy crisis: why government support for businesses could harm the economy in the long run
Running an expansionary budget is the standard response to a recession but this time public finances are in a particularly delicate condition.
Taking big leaps in value chain resilience: adaptation and transformation
While it may be too early to announce “de-globalization”, manufacturing players are fundamentally rethinking their business agendas and global value chain strategies while navigating political upheaval, environmental disasters and technological breakthroughs.
The ECB’s new backstop introduces atrocious incentives
On the ECB's TPI mechanism, the absence of effective conditionality leads to atrocious incentives for countries, politicians and, crucially right now, voters.
Have a nice rest of the week.
Raymond Torres
Funcas Europe Director