France and Spain Call for EU to Act on Surging Gas Prices
- European gas prices soared to new records on Tuesday
- Energy is also expected to be addressed at next EU summit
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France, Spain and three other European countries called on the bloc to take urgent action to cushion the blow of skyrocketing gas prices -- and investigate their cause.
Finance ministers of France, Spain, Greece, Czech Republic and Romania issued a joint statement asking the European Union to develop a toolkit to “immediately react to dramatic price surges.” They called for an investigation into the gas market, said the bloc should coordinate purchases to “increase our bargaining power,” and urged an overhaul of power markets.