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'We have to acknowledge a new reality of higher debt levels,' EU Commission president Ursula von der Leyen said (Photo: EC - Audiovisual Service)

EU's mammoth fiscal rules debate back on menu

Europe has announced its determination to spend its way out of yet another crisis.

Governments have already set aside €400bn in support this year to deal with the energy shortage — a consequence of Russia's "economic warfare," EU Commission president Ursula von der Leyen said in her state of the union address in Strasbourg on Wednesday (14 September).

But replacing Russian fuels will take years, and extreme weather events and the need to rapidly transition to renewables will put...

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

'We have to acknowledge a new reality of higher debt levels,' EU Commission president Ursula von der Leyen said (Photo: EC - Audiovisual Service)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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