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European Governments Spend $278 Billion to Cushion Energy Crisis

  • Funding covers tariff subsidies to direct household payouts
  • Governments should be focused on reducing demand: Bruegel

European governments have allocated about 280 billion euros ($278 billion) in funding to cushion the impact of the energy crisis on households and businesses.

The funding, calculated by Brussels-based Bruegel think tank, measures fresh allocations since September, and covers everything from subsidizing tariffs for small businesses in Greece to direct payouts to consumers in Belgium. Some of the money hasn’t yet been spent.