As hyperinflation of energy prices has started to hit European households and companies hard, governments are showing little or no action in tackling their man-made crisis. In France, President Emmanuel Macron has put a cap on gasoline prices which is going to expire one day after the Presidential elections.
In Italy, Prime Minister Mario Draghi backtracked on his previous promises of increasing aid for households and producers, stating in a Jan. 11 press conference: “We plan to take further measures to deal with the emergency in the next quarter and following months.” With that, Draghi meant no more aid will be financed in Q1 in addition to the already-allocated €3.8 billion, a sum judged as totally insufficient by producer and consumer associations. Past Q1, further government measures are useless, as temperatures get milder in Italy. Since Jan. 5, electricity bills have increased 55% and gas bills for heating 41.8% in Italy.
