The EU wants us all to be poorer, much poorer. So they have come up with a plan to achieve this. Typically they are selling it in a slightly more positive way.
German Environment Minister Sigmar Gabriel told reporters on Tuesday that all 27 EU environment ministers backed in principle a proposed unilateral cut in EU emissions of 20 percent by 2020 from 1990 levels.Interesting that this is being pushed by the Germans. Those of us with a little more memory than a goldfish will be aware that the Germans were responsible for the fiasco that was the launch of emissions trading. They gave their companies too many permits, so that they could export them.
This leads me to believe that nothing will be done to actually cut emissions. I am sure they will find ways of using this declaration to screw us poor serfs though.