An energy rescue package is needed

Der Standard writes that Europe is entirely at the mercy of Russia in energy matters, which makes a strategic "energy rescue package" a matter of utmost importance: "The bad news for Europe is that our dependence on Russian gas will grow markedly in the years to come. At present 42 percent of the EU's natural gas comes from Russia. This figure will increase to between 65 and 70 percent by 2020, while Norway and Algeria will lose importance as suppliers. ... If it is possible to invest hundreds of billions of euros in saving banks, it should also be possible to come up with similar sums for the energy sector to prevent Europe from being increasingly subject to political extortion. And rapid investments in solar energy, bioenergy, hydrogen vehicles and insulating buildings as part of an 'energy Marshall Plan' could give a huge boost to the economy."

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