Federal Finance Minister Lars Klingbeil (SPD) is urging for rapid relief measures for motorists. Speaking to Politico, Klingbeil stated that soaring fuel prices represent a massive burden for anyone dependent on their car, and therefore, prices must drop quickly.
He noted that his proposals have been on the table for several months. One specific suggestion involves implementing a European “super-profit tax,” intended to return the “unlimited crisis profits of oil conglomerates back to the citizens.”
The EU finance ministers are scheduled to hold an informal meeting in Dublin this Friday, and Klingbeil intends to participate in these discussions. The SPD chairman stressed that the EU Commission must act “very promptly” on this issue, and he plans to champion this cause alongside his counterparts from other major member states like Spain and Poland.
Klingbeil also indicated that the discussions in Dublin should look beyond the immediate crises. He emphasized the critical need to make Europe more competitive and resilient, particularly in the banking sector. His vision calls for simpler regulations and better conditions to spur investment. Ultimately, he aims for Europe to become a more innovative and independent force in digital financial technology, requiring the development of its own European solutions for payments.
