Europe will have to accept higher prices

Europe is going to have to abandon its historical ly consumer-friendly policy of low prices and accept higher prices for a number of reasons: The protection of strategic industries (renewable energies, pharmaceuticals, perhaps agri-food) from competition from countries with low labour costs; The transition to renewable energies, which will multiply energy prices by a factor of around 3; The introduction of a compensatory CO 2 border adjustment mechanism; The necessary increase in the lowest wages. All this will require policies that are more favourable to producers, the energy transition and social welfare and less favourable to consumers.