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Greece, Spain, Italy Leaders Set To Promote Gas Price Caps

EUROPEAN COUNCIL
markets-real-timePolitical RiskCommoditiesPolitical Risk BulletEnergy BulletsBulletMarketsFixed IncomeForeign ExchangePolitical Market News

The leaders of Greece, Spain, and Italy are set to raise the issue of setting gas price caps at the European Council summit taking place presently in Brussels.

  • On arrival, Greek PM Kyriakos Mitsotakis stated that he and Italian PM Mario Draghi would raise the issue of their view of the need for a cap on wholesale gas prices in the EU.
  • Mitsotakis: "“It is an issue that we have been discussing for some time, but unfortunately, so far there has not been the necessary mobility...I would hope that all members of the European Council now recognize the need for a coordinated European response that can support national budgets, so that we can limit, as far as possible, the negative impact … on our households and our businesses.”
  • On his arrival, Spanish PM Pedro Sanchez stated that he intends to bring up the economic consequences of the war in Ukraine, particularly rising electricity prices. Said that he wanted to defend interventions in the energy market, including capping gas prices.
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The leaders of Greece, Spain, and Italy are set to raise the issue of setting gas price caps at the European Council summit taking place presently in Brussels.

  • On arrival, Greek PM Kyriakos Mitsotakis stated that he and Italian PM Mario Draghi would raise the issue of their view of the need for a cap on wholesale gas prices in the EU.
  • Mitsotakis: "“It is an issue that we have been discussing for some time, but unfortunately, so far there has not been the necessary mobility...I would hope that all members of the European Council now recognize the need for a coordinated European response that can support national budgets, so that we can limit, as far as possible, the negative impact … on our households and our businesses.”
  • On his arrival, Spanish PM Pedro Sanchez stated that he intends to bring up the economic consequences of the war in Ukraine, particularly rising electricity prices. Said that he wanted to defend interventions in the energy market, including capping gas prices.