Energy crisis: The EU-27 seek common ground at the Prague Summit

Its leaders The European Unionwhich meet today in Praguetrying to overcome their differences to shape common response to the spike in energy prices caused by the war in Ukraine.

In a show of European Union unity, the president of France Emmanuel Macron and the German chancellor Olaf Solz they arrived together at the castle of the Czech capital, with the Dutch prime minister Mark Rutte close behind. But the image is not enough to hide it recent tension between Paris and Berlin over energy issues.

Europeans also need to solve the issue of supplier reluctance.

Twenty-three oil-producing countries, led by Saudi Arabia, on Wednesday announced drastic output cuts aimed at holding down prices, a gift to Moscow and a slap in the face to the West.

The development highlights the difficulty buyers have in forcing their prices on suppliers, even if they are “friends”.

The President of the Commission also proposes the joint gas market developmentbut also the increase of the package of 20 billion euros of European subsidies that has already been approved for the development of the infrastructures required for the independence from Moscow, at a time when some countries are asking for new mutualized financing on a European scale.

“There is no time to waste” warned the president of the European Council, Charles Michel, as European employers’ associations sounded the alarm at the end of September about an immediate risk to the survival of thousands of businesses.

So far, the 27 have agreed to withhold part of the surplus profits of electricity producers in favor of consumers, as well as to jointly impose restrictions on the consumption of electricity and natural gas.

European leaders will today restate their continued support for Ukraine. French President Emmanuel Macron said last night that he may announce new arms shipments to Kyiv, mainly Caesar artillery systems.