MOSCOW (Pakistan Point News / Sputnik - 01st October, 2022) The European Commission will thoroughly evaluate Germany's $196 billion plan created to fight energy price hikes, European Commissioner for the Internal Market Thierry Breton said on Friday.
On Thursday, German Chancellor Olaf Scholz announced that the government would introduce gas price control measures, abandon the gas fee initiative suggested in mid-August and allocate support of up to $196 billion to mitigate energy price spikes.
"I have taken note of Germany's ��200 billion ($196 billion) plan to tackle #energy-price surge � which we will carefully review," Breton said on Twitter.
The commissioner also stated the need to create a solution for those countries, which cannot afford such costly price containment measures.
"While Germany can afford to borrow ��200 bn on financial markets, some other EU Member States cannot. We need to reflect urgently on how to offer Member States � which do not have this fiscal room for manoeuvre �the possibility of supporting their industries & businesses," the commissioner tweeted.
Since 2021, energy prices in Europe have been surging as part of a global trend. After the beginning of Russia's military operation in Ukraine in February 2022 and the adoption of several packages of sanctions against Moscow by the West, fuel prices have accelerated the growth, pushing many EU governments to resort to contingency measures.
