How Europe can cope with the looming gas • Table.Briefings

By Isabella M. Weber and Karsten Neuhoff

Isabella M. Weber is an assistant professor of economics at the University of Massachusetts. Karsten Neuhoff is Professor at the Technical University of Berlin and Head of the Climate Policy Department at DIW Berlin.

In the event that Russia turns off the gas tap to additional member states, the EU should be prepared, write Isabella M. Weber and Karsten Neuhoff. Negotiations on contingency plans should begin immediately. In doing so, they say, particular attention should be paid to issues of fairness, solidarity and legitimacy.

What would a stop on Russian gas imports mean for European economies? The question sharply divides economists. Everyone agrees that there would be negative consequences, but how bad? Predictions range from a mild recession to economic disaster and mass unemployment.

How Europe can cope with the looming gas shortage

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