The President of the European Economic and Social Committee (EESC), Séamus Boland, called on Tuesday at the Forum Europa in Brussels for “swift action” in the face of rising energy prices and warned that, otherwise, “Europe will be furious”.
At a breakfast briefing organised by New Economy Forum in the EU capital, Boland explained that this surge is “closely linked to global geopolitics” and the war in Ukraine, and is therefore plunging Europe “into a very serious situation”, with fuel prices “around 50 or 60 cents or perhaps more, higher than a year ago”.
“I believe the situation will be very serious if these prices are not curbed, even though part of it is beyond our control”, he admitted.
Boland expressed concern about the impact of rising energy prices on low-income households and their effect on poverty rates. Currently, this indicator stands at around 20%, but could rise to 35% if this situation persists, according to studies cited by the EESC president.
“Anyone familiar with European history -as Marie Antoinette would well know- will understand that eating cake is not enough. Europe will be furious if we do not act swiftly on this”, he warned.
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