Energy prices a 'critical problem' for 20% of Italian manufacturing says economy ministerA rapid policy response is needed to the energy shock caused by the Iran war, Economy Minister Giancarlo Giorgetti told a G7 finance and energy summit Monday. "A rapid, coordinated, and proportionate political response" is needed to combat the energy shock caused by the war in the Middle East, Giorgetti said at the G7 Finance and Energy summit. Giorgetti, who urged everyone to "keep in mind the lessons learned from 2022-23" with the Russian attack on Ukraine, called energy prices "a critical problem for energy-intensive industries, which represent 20% of Italian manufacturing." "Energy measures to counter the indiscriminate rise in prices," he said, "must be targeted, temporary, and based on a shared approach." This is why "I agree with Christine Lagarde: we must find the right mix between monetary and fiscal policy."
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