The EU is seeking emergency powers to force businesses to stockpile key products and break contracts during a crisis, such as the war in Ukraine. The move aims to help the bloc avert future supply chain breakdowns. The proposed Single Market Emergency Instrument comes in response to supply bottlenecks caused by the COVID-19 pandemic and Russia’s invasion of Ukraine. The proposal has faced fierce pushback from businesses and several EU member states, including Belgium and Denmark. They are concerned the new tool will be “too interventionist”.
Subscribe to our channel here: https://cna.asia/youtubesub
Subscribe to our news service on Telegram: https://cna.asia/telegram
CNA Lifestyle: http://www.cnalifestyle.com