Dr. Dirk Ehnts:

I would argue that probably it is possible to improve the situation in the energy sector. The European Union has probably done things wrong. It is not a good idea to have a spot market to buy energy because the people who need energy are forced to buy it at any price. Of course if one has a monopoly or cartel situation then one should react by creating a monopsony. One should act as a European Union and say that there is only one buyer with which to negotiate so if one wants to sell gas or oil to the European Union countries then one can only sell it through some kind of European Union institution that we can set up. Then one would have a lot of market power because one is the only source of demand for oil or gas. To have a strategy where one lets the small countries in the eurozone negotiate or buy directly from the market on an almost daily basis for energy is not a good idea.