[Ticker] Dutch finance minister: EU ‘will be poorer’ due to inflation

EU Reporter

Speaking at arrival of a meeting of EU finance ministers, Dutch finance minister Sigrid Kaag said inflation will drive down standard of living across the continent. “We have to realise we will become collectively poorer,” she said. “We have to take care of vulnerable households, but we can not keep compensating. It is financially unsustainable”. She added that member states will need fiscal space to invest in climate-change measures.