This investment is also necessary to protect our productive capacity in the face of the current shocks and to avoid a permanent loss of economic potential that could entrench inflationary pressures.
In this context and responding to the mandate from the European leaders, on 18 May the European Commission presented REPowerEU, an ambitious plan that aims to reduce the EU’s fossil fuel dependence on Russia to zero by 2030. [15] Moreover, huge amounts of financing are needed if we are to make the green transition a reality.