BRUSSELS- Euro zone finance ministers pledged on Monday that national financial shields against soaring energy costs would be coordinated, temporary and targeted, so as not to trigger a wage-price spiral that would boost already record inflation.
The statement from finance ministers of the 19 countries sharing the euro comes after Germany drew criticism from some EU capitals and institutions for unilaterally announcing a 200 billion euro support package for its companies and households struggling with a huge surge in energy prices.
Germany’s response is far larger than the 67 billion euros ($66 billion) announced by France or the 68 billion euros planned by Italy.
While the support was welcomed in Germany and by financial markets, it raised concern in other EU countries that cannot afford to spend nearly that much.
