European Monetary Affairs Commissioner Joaquin Almunia has admitted concern about oil prices, which hit record highs last week.
He agreed on Monday (23 August) with Germany that EU states should not take unilateral tax measures to prevent the impact of high oil prices on consumers, Reuters reported.
As crude oil prices peaked at $49.40 per barrel on Friday (20 August), the issue of tax cuts re-surfaced in Europe, in particular in Italy.
"No country should take unilateral act...
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Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.