The head of the Finnish central bank has had a long political career. As Finnish Minister for Economic Affairs, he was responsible for his country’s energy policy and, as EU Commissioner for Monetary Affairs, was one of the key players in the euro crisis.
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Frankfurt The head of the Finnish central bank, Olli Rehn, warns that Germany’s nuclear phase-out will increase dependence on Russia and destabilize the energy market. “The decisions about energy policy in Germany affect price fluctuations and thus the uncertainty about inflation,” said the ECB Governing Council member in an interview with the Handelsblatt. “For me, switching from coal to natural gas is not a green transition, and this transition phase will take a long time in Germany.” In December, energy prices in the euro area rose by 26 percent compared to the same period last year.
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