Ó Ríordáin calls for EU solidarity instrument to shield families from looming cost-of-living shock
Ó Ríordáin calls for EU solidarity instrument to shield families from looming cost-of-living shock - The Labour Party
Aodhán Ó Ríordáin, Labour MEP for Dublin has called on the European Commission to urgently prepare a coordinated European response to protect households from a potential surge in inflation and energy prices driven by escalating Trump’s war on Iran and the ensuing regional crisis.
Warning that families across Europe could face a cost-of-living crisis like the inflationary shock after the Ukraine war, and potentially worse, he said the EU must act now to ensure Member States are equipped to shield workers and vulnerable households from the worst impacts.
Speaking from Bussels, Ó Ríordáin said:
“European citizens are now exposed to yet another cost-of-living crisis our continent. We cannot wait until families are pushed to the brink. Just as we created SURE during the pandemic to protect jobs and incomes, we need the Commission to step up and prepare a similar solidarity instrument to support Member States to be ready to respond to this crisis. This must be a coordinated European response.
“Donald Trump and Benjamin Netanyahu have set a match to the international order that underscores our stability and economic security – and Ireland is more exposed to these sorts of shocks than most. When global instability drives up energy prices and fuels inflation – which it inevitably will – it is ordinary European families who pay the price.
“The European Union cannot stand on the sidelines. We must respond with solidarity, with coordination, and with a clear political message: Europe will protect its people.”