shine trader limited reports:
The euro group meeting was held in Luxembourg on the 4th to focus on the impact of the epidemic on the economy, especially the energy problems facing Europe.
Recently, the rising energy prices have aroused widespread concern. According to the preliminary data released by Eurostat on the 1st, the inflation rate in the eurozone reached 3.4% in September, higher than market expectations and a 13 year high. Among them, energy prices are the main cause of inflation.
Pascal Donoho, chairman of the euro group, said that the meeting focused on the impact of energy issues on inflation and budget policies in the euro zone, as well as energy security. Euro zone finance ministers agree with the European central bank that the current inflation problem is temporary and will fall next year. But at the same time, it is also concerned about the economic and social impact caused by high energy prices, and believes that it is necessary to protect the interests of vulnerable families and small and medium-sized enterprises through targeted measures, monitor the changes of energy prices and incorporate them into budget decisions to ensure that energy issues will not affect the process of European economic recovery.
Donohue also said that the current energy issue will not affect the EU’s determination to deal with climate change. He said that green transformation is the solution to the problem, not the cause of the problem. “We should look for opportunities to improve energy efficiency, develop renewable energy and low-carbon energy, and reduce our dependence on imported energy.”
In addition, the meeting also discussed the current economic recovery in Europe. Donohue said that the mutation of COVID-19 delta strain is a great challenge. Fortunately, the hospitalization rate and mortality rate are continuing to decline, and the economic recovery is on the right track. The EU’s economic recovery plan has played a role in helping economic recovery under the epidemic, but it is more important to pay attention to reform and investment and promote long-term economic growth.
Reprint indicated source：Shine Trader Limited Live information