@HannoLustig | 25,842 followers
European leaders thought they had chosen the least costly route by not imposing a full energy embargo. Instead, they have chosen a long and costly conflict by keeping the Russian government, which relies on energy exports for 50% of its revenue, funded.
NEW @Bruegel_org data: since September 2021, €674 billion, nearing 5% of GDP, allocated in European countries to deal with energy crisis.

This is as large as the "unprecedented" NGEU program.

When does this level of expenditure stop being "temporary"?
bruegel.org/dataset/nation… pic.twitter.com/PxTgC3YO1D

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