It must be understood that, as it was with the oil shocks of the 1970s, the current energy shock is an unavoidable burden for the euro area as a whole, and especially for the countries most affected, such as Italy undoubtedly is.
Any attempt to completely counteract its impact on the incomes of labour and capital would be in vain and would inevitably end up having negative repercussions on inflation. To prevent this outcome, budgetary policy can redistribute the effects of the shock between consumers, production factors, present and future generations, with targeted and temporary interventions in support of the households and businesses most affected.