European Commissioner for the Economy Paolo Gentiloni warned of an economic downturn in the coming months. Energy rationing may be necessary in some countries, and new bailouts are inevitable in the end.

He said the inflation the eurozone is currently experiencing will plunge the economy into turbulence, and the coming winter could be one of the worst in history. "We are experiencing an unprecedented level of insecurity. But the numbers for the EU economy on the whole remain positive, and the situation on the labor market is good," he told DER SPIEGEL.

Speaking about the prospects for electricity rationing in Europe, Gentiloni said it depends on "the decisions made by Russian President Vladimir Putin as well as our actions. "Energy savings are already necessary now. We have, to be sure, seen positive developments when it comes to filling natural gas storage facilities and saving energy. But the situation in EU member states is highly variable. Rationing may become necessary in some of them."

He noted that EU governments are already taking decisive measures. "By the end of August, almost 1 percent of the EU’s economic output flowed into the mitigation of the energy crisis. Additional measures will be announced, such as the relief package presented by the German government. We can assume that these support measures will amount to around 2 percent of economic output by the end of the year."

Asked whether EU member states could support such large-scale spending programs, the commissioner said that such national responses were necessary and inevitable. "But to the extent possible, they should be temporary and targeted. The latter has not always been the case. And it will also be difficult to limit their timespans. Given the current situation, what government would dare put an end to aid programs that were only introduced a month ago? For countries that are already suffering from high debt loads, it could produce permanent budgetary problems," he said.