MNI BRIEF: European Summit To Discuss EU Energy Response

The European Council will discuss at an Oct. 21-22 meeting how the EU can help as soaring energy prices strain household purchasing power, an EU Council President spokesperson said on Monday.

"In the short term, we need to focus on the immediate concerns for our households, industry and SMEs. This is, in the first instance, the responsibility of Member States. But we need to discuss how the EU can help," the spokesperson said.

"In the medium and long term, we need to continue to significantly increase our investment in innovation and clean energy. The current situation further underlines the importance of determining an ambitious and realistic pathway towards fulfilling our collective 2030 and 2050 climate targets, while ensuring a fair green transition leaving no one behind."

The global surge in naturalgas prices was already set to be a key element in discussions between eurozone finance ministers on how to return fiscal policy to normality and in their upcoming talks on EU fiscal rules, EU officials have told MNI.