economy
March 11, 2026
EU Admits Nuclear Blunder
Ursula von der Leyen has acknowledged that the EU’s phase-out of nuclear power was a “strategic mistake”
TL;DR
- EU Commission President Ursula von der Leyen admits the bloc's nuclear energy phase-out was a "strategic mistake."
- Nuclear power's share in EU electricity production has dropped from 33% in 1990 to 15% currently.
- A €200 million guarantee fund will support small modular reactors (SMRs), with deployment targeted by 2030.
- Germany's Chancellor Friedrich Merz also condemned the nuclear phase-out as a "serious strategic mistake," leading to high energy costs.
- Industrial power prices in Germany are triple those in the US and China, according to a JPMorgan analysis.
- EU competitiveness is stagnating or deteriorating, with the chemical sector losing jobs and factories.
- Former Polish Prime Minister Mateusz Morawiecki called EU's 2040 climate targets "suicide of the European economy."
- Hungarian Foreign Minister Peter Szijjarto warned that sanctions on Russian energy would harm the European economy.
- Kremlin envoy Kirill Dmitriev stated that Western energy pressure on Russia has failed and backfired.
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