European Gas Prices Post Sharpest Single-Day Drop Since 2023
Natural gas prices across Europe fell sharply on Tuesday, dropping 16% to around €47 per megawatt-hour after spiking to a three-year high above €69/MWh the previous day.
File photo: EPA/BGNES
German Chancellor Angela Merkel said late on Monday that the European Union will have problems if do not allow individual members to participate in various degrees of integration with each other.
Merkel made the comment in Paris after a meeting with the leaders of the four largest economies in the Eurozone – Germany, France, Italy and Spain.
The EU "is founded on common values, solidarity and the rule of law," they added, in a reference to the most divisive issues between a core of member states and some countries such as those in the Visegrad group - Poland, Hungary, Slovakia, and the Czech Republic.
German Chancellor said European leaders may commit to a union of ‘’different speeds’’ when they make a major declaration on its future at a summit in Rome this month.
The EU has long been riven by debate about whether all countries must commit to full integration including the single currency, or whether some can go at different paces.
“We certainly learned from the history of the last years, that there will be as well a European Union with different speeds, that not all will participate every time in all steps of integration,” said Merkel.
Francois Hollande, the French president, joined Merkel to say that some stronger countries should be able to move quicker than others.
Visegrad countries have also refused to take asylum seekers and migrants despite EU demands for solidarity.
Hungary's leader Viktor Orban wants to build an "illiberal democracy" and the new government in Poland is under EU monitoring over constitutional violations.
Their meeting comes ahead of an EU Council meeting in Brussels this week and the 60th anniversary of the Treaty of Rome on March 25.
European Commission President Ursula von der Leyen has called the European Union’s decision to reduce its reliance on nuclear energy a strategic misstep, highlighting the bloc’s dependence on imported fossil fuels
Caretaker Prime Minister Andrey Gyurov held talks with European Commission President Ursula von der Leyen in Paris, focusing on Bulgaria’s progress under the Recovery and Resilience Plan and the upcoming payments expected from the European Union
Natural gas prices across Europe fell sharply on Tuesday, dropping 16% to around €47 per megawatt-hour after spiking to a three-year high above €69/MWh the previous day.
European Commissioner for the Economy Valdis Dombrovskis signaled that the EU is prepared to release its strategic oil reserves should the deteriorating situation in the Middle East demand it.
Hungary's government has moved to ban the export of crude oil, diesel, and 95-octane gasoline. Alongside this prohibition, the state plans to release fuel reserves sufficient to cover 45 days of domestic needs
Sweden is stepping up its preparations for potential crises or conflicts by creating stockpiles of essential supplies, including fuel, food, and power generators.
Novinite 2025 in Review: A Year That Tested Bulgaria and the World
A Disgraceful Betrayal: Bulgaria's Shameful Entry into Trump's Board of Peace