"The rise in fuel prices is dramatically reducing the purchasing power of all citizens, with particularly devastating consequences on low-income families". The president of the EU Commission, José Manuel Barroso, in acknowledgement of the emergency situation that has been caused by the rise in oil prices combined with the rise in food prices, has submitted a few practical proposals today, to be taken within the EU in the short and medium term. "I believe explains Barroso that a EU-wide structured response, maybe combined with targeted social policy measures in each member state, will enable us to successfully cope with this challenge". The head of the EU Executive intends to submit such proposals to the EU Council on 19-20 June. Such options include: "further promotion of energy efficiency in businesses and households", initiatives for transparency of oil stocks, organisation of a world summit on oil markets. In addition, the EU Commission accepted the principle that "the States should take short-term measures to support the poorer strata of the population", without distorting the market and the budget policies.
