The Member States of the European Union have dipped into their coffers to protect households and businesses from the energy crisis.
We believed the “whatever the cost” deployed in France and Europe during the Covid-19 pandemic behind us. The energy crisis that began last fall has once again thrown open the floodgates of public spending.
Energy vouchers paid directly to households, tax reductions, price caps or rebates on fuel prices, with various instruments: all the Member States of the European Union have dipped into their coffers to protect households and businesses from soaring prices electricity, gas and oil.
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According to a score from the Bruegel think tank, more than 230 billion euros in spending had already been announced by the Twenty-Seven in July. Sum to which should be added the 65 billion euros of the new German plan presented last Sunday. “Germany is now one of the most fiscally active Member Statescomments Frederik Ducrozet of Banque Pictet, even if news…
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