Informed perspectives from CESifo President Clemens Fuest and other seasoned experts from the CESifo network offer valuable insights and comments on current economic policy issues. Sought for their well-founded policy advice, these perspectives distill complex topics and offer recommendations reflective of the experts‘ expertise. The Expert Opinions contribute to the public discourse, extend the advancing knowledge to shape policies, and serve as information and guide for decisionmaking in politics and business.
Expert Opinions
Europe Must Avoid a Subsidy Race
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Expert Opinion
The energy crisis – especially the shortage of gas due to a loss of supplies from Russia – is plunging Europe into recession and causing social tensions and distributional conflicts. European governments are eagerly seeking ways to defuse the situation, but they will succeed only if they cooperate closely. The cross-border energy market must remain open, and the European Union should leverage its market power when purchasing gas in third countries. But without coordinated national crisis-management strategies, Europe’s response could become a self-defeating subsidy race.
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