Metsola calls for forceful response to energy crisis, inflation, war in Ukraine

This article is brought to you in association with the European Parliament.

“We need a revision of the EU long-term budget to adapt to crisis and finance new priorities”, said European Parliament President Roberta Metsola at the European Council.

On urgency to act:

“Europe’s citizens look to us for direction. We must respond forcefully – in unison – and proportionately. It is time for giant leaps to replace small steps, whether it is on tackling spiralling electricity prices, shrinking gas supplies, rising inflation, or responding to the illegal and brutal Russian invasion of sovereign Ukraine.”

On energy:

“We need a credible vision for our energy market of the future. A joint procurement mechanism for gas is necessary. It is the only way we can find a common way out and not outbid each other when it matters the most. We need to look again at the possibility of decoupling electricity prices from gas prices – as an extraordinary, temporary measure. The European Parliament remains ready to play its part, on REPowerEU, and for a long-term revision of our energy market.”

On inflation and investment:

“Double-digit inflation and rapidly rising interest rates are causing a tsunami, wiping value off people’s homes, salaries and national budgets.

Our economy recovered well after the pandemic, thanks to our economic governance framework and our NextGenerationEU. Now, we need to set the right conditions to stimulate private investment, to set the EU economy back on a stable path of growth.”

On EU budget / MFF revision:

“In the pandemic we created debt that will need to repaid using own resources, but we have not agreed on new Own resources and the rising interest rates oblige us to pay much more money than planned. Also, we need to cushion the social and economic impact of the crises we are facing and focus on the most vulnerable. Our economy needs a boost, and it is not only a matter of prosperity, but a matter of security.

That means looking again at the EU Budget. The EU´s multiannual financial framework lacks the resources and flexibility to respond to crises or to finance new priorities. We need a revision to adapt to the emerging needs and priorities, be it humanitarian aid to and reconstruction of Ukraine, the global food crisis, dealing with the natural disasters, and financing our policy ambitions on energy, defence and strategic autonomy.”

On Ukraine:

“The wave of indiscriminate strikes targeting cities and civilian infrastructure across Ukraine is shocking. It must be met with decisive action including increased sanctions, more military support especially air defence systems, tanks and heavy armour as well as strengthened efforts in addressing the war crimes committed in Ukraine. Real peace can only come with justice – with a Tribunal to look into war crimes, their perpetrators and restitution.

Russia’s brutal, illegal, and unjustifiable invasion of Ukraine shone a spotlight how we must keep defence and security at the top of our agenda to counter hybrid attacks. When Russia inevitably escalates in winter, we need to start thinking of Europe as a community with 43 million additional people that rely on us. We must be ready.”

President Metsola´s full speech can be found here.