The EU Will Now Have Control of any Crisis
The very definition of a “crisis” is EU’s prerogative.
The EU Will Now Have Control of any Crisis
The very definition of a “crisis” is EU’s prerogative.
The Financial Times reported this week that the EU is seeking “SWEEPING POWERS” [caps mine] over businesses in member-states that would basically allow Brussels to tell these companies what to produce, how much of it, and whom to sell it to in times of a crisis. The definition of a crisis would be the prerogative of the same EU.
“We would be very concerned if this proposal was adopted in such an interventionist shape,” said Martynas Barysas, an executive for BusinessEurope, an employer association.
“It could oblige member states to override contract law, force companies to disclose commercially sensitive information, and share their stockpiled products or dictate their production under any type of crisis the commission decides upon,” he explained.
Another report, by Bloomberg, focused on direct energy market intervention measures that are being mulled over by Brussels. The report cited several bailouts that the governments of Germany, Sweden, and Finland had to resort to in order to avoid utilities going under because of the price crisis as the events that spurred the bloc into action.
https://oilprice.com/Energy/Energy-General/Europes-Reaction-To-The-Energy-Crisis-Is-Turning-Into-A-Ponzi-Scheme.html