Investment Times

By Anders Åslund Skyrocketing energy prices are a disaster for the European economy and its politicians. But given how feckless European energy policies have been, the economic pain they have caused should surprise no one. European politicians must rethink their approach. The mess in which Europe now finds itself was caused not so much by European Union policy as by the absence of one. The EU needs a stronger, more unified, and far more coherent common energy strategy. For years, EU energy policy has moved in fits and starts in response to unexpected problems, most of which were caused by...