The European Union is preparing for a massive economic shock comparable in its consequences to the COVID-19 pandemic, amid a sharp rise in energy prices. This is reported by Politico, citing sources in EU structures.
According to him, two questions are on the agenda in Europe: how serious the continent’s energy crisis will become and how severe its consequences will be. Now there is a risk that the crisis will affect all sectors of industry.
An EU official noted that there is a “growing atmosphere reminiscent of the COVID-19 era” in Brussels. According to him, the potential energy shortages and the subsequent “economic contagion” contagion“ may be more serious than the 2020 crisis.
According to sources, European Council President Antonio Costa is considering the possibility of convening an emergency summit of EU leaders.