the Twenty-Seven are preparing for the worst

by time news
European Central Bank President Christine Lagarde, Croatian Prime Minister Andrej Plenkovic, European Council President Charles Michel and European Commission President Ursula von der Leyen in Brussels on Friday. POOL/REUTERS

The Heads of State instructed the Commission to find new solutions to guarantee supply at affordable prices.

Bruxelles

Hoping for the best of scenarios, but preparing for the worst. Faced with the deterioration of the economic outlook and the fear of a difficult winter, the Heads of State and Government of the European Union meeting in Brussels have decided to intensify preparations and coordination.

The items initially on the agenda (the difficult adoption of a roadmap to complete the Banking Union or Croatia’s entry into the euro on 1is next January) were quickly dealt with. For the moment, we avoid talking about the scenario of a recession. Instead, Eurogroup President Paschal Donohoe and European Central Bank President Christine Lagarde predict weaker-than-expected growth for 2022 and 2023. But inflation (which hit 8.1% in the eurozone) is “a major concern for all of us“, explains the President of the European Council Charles Michel.

It is energy prices that most worry executives. The interruptions of…

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