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The French finance minister urged people today to “look at the bitter experience of Kazakhstan”.
French authorities said today they were working on new measures “to contain” rising energy prices, predicting a mood swing ahead of the spring presidential election.
“Look at what is happening in Kazakhstan, it is an indicator of what can happen when energy prices explode, and it is politically dangerous,” the minister said today. Bruno Le Maire.
He further dropped the ‘bomb’: “If we do not find a solution in the coming days, at the end of January the French will see a 35-40% increase in energy prices.”
The call comes as the prices of all energy products in Europe are rising inexplicably, to unprecedented levels.
At the beginning of the week the gas price of Dutch traders TTF, which is considered the price standard for natural gas, increased by 5% to € 93.30 per megawatt hour.
In France, price increases are expected to be particularly problematic, given the fierce protests of several months of “Yellow Vests” after the fuel tax increase in 2018. The protests then expanded into a major anti-government movement.
In anticipation of price increases, the Paris government has said it is “committed to protecting consumers by setting a 4% growth ceiling in February.” But prices are already rising on the stock exchanges and support will not be enough.
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