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FX.co ★ EU leaders squabble over gas price cap

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Forex Humor:::2022-10-19T12:54:55

EU leaders squabble over gas price cap

European authorities are desperately trying to contain the energy crisis in the region. However, no feasible solution has been proposed to date. German national TV channel Das Erste reports that European leaders still have not reached a consensus on measures to deal with the ongoing energy crunch after holding an informal summit in Prague. "On the price cap, there is nothing near a consensus," a diplomat from one EU country said. At the same time, the officials are likely to prepare some proposals for the next summit. Das Erste pinpoints that a gas price cap was the only measure under discussion but the countries have not fully agreed on the solution yet. Particularly, several member states stand against capping the price of gas as it could leave countries struggling to attract supplies. On the gas price cap matter, German Chancellor Olaf Scholz suggested using the European Union's pandemic recovery fund to curb the crisis. This will be discussed at the next summit in Brussels in just two weeks. Probably, the proposed financial aid would help Europeans to survive the cold winter days.

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