Breakingviews – Europe energy fallout will cascade down the years – Reuters

Breakingviews – Europe energy fallout will cascade down the years – Reuters

LONDON, Sept 12 (Reuters Breakingviews) - Europe’s politicians, consumers and businesses are understandably focused on how to get through a rough winter. But nobody should kid themselves that the continent’s gas crisis will be over by the spring.

The energy squeeze is a multi-year problem which will make Europe poorer and less competitive while saddling the region with higher public debt. Dealing with this at the same time as tackling high inflation will cause ructions which will cascade down the years.