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EU Economy Risks ‘Full Stop’ on Energy Crisis, Belgium Warns

  • Prime Minister De Croo says EU should impose price cap on gas
  • Bloc risks ‘de-industrialization’ and ‘social unrest’
Bloomberg business news
Ukraine Pipeline a Last Link to Russian Gas for Europe

Belgian Prime Minister Alexander De Croo warned that Europe needs to act immediately to address the energy crisis or risk the kind of fundamental economic shutdown that the bloc would struggle to recover from.

“A few weeks like this and the European economy will just go into a full stop. Recovering from that is going to be much more complicated than intervening in gas markets today,” he said Thursday in an interview with Bloomberg News. “The risk of that is de-industrialization and severe risk of fundamental social unrest.”