Press TV, Brussels
Gas, oil, petrol, electricity and food prices continue to soar across the 27-nation EU as the conflict in Ukraine shows no sign of abating and sanctions against Russia appear to be backfiring. EU finance ministers discussed the situation on Tuesday with senior European Commission officials.
Experts say there is a lack of coordination in dealing with the EU's energy crisis and there doesn't appear to be a long-term strategy.
Some EU lawmakers warn of a looming unemployment crisis as businesses cut back. All the while poverty is on the rise in the bloc.
Millions of ordinary EU citizens are at their wits' end but there seems to be no end of money for the Ukrainian Government.
Many are questioning why we don't hear more from Western leaders about peace talks.
It is clear that economically things will only get worse in the absence of negotiations to end the conflict but commentators point out that wars are very lucrative for some and in reality, they suggest, the US-led NATO alliance has nothing to gain from peace.
With the European Commission signing off on a further five billion Euros for Ukraine, lawmakers demand EU leaders provide greater support for citizens experiencing a growing cost of living crisis.