Europe’s Rush to Shield Economies Quickens With Action in Iberia

Spain and Portugal unveiled new measures to protect their economies from surging power costs and called for Europe-wide action, intensifying a push across the continent to shield from the fallout of war in Ukraine.

Spanish Prime Minister Pedro Sanchez late on Monday announced plans for a series of tax breaks to be approved later this month. Meanwhile Portugal offered a 400 million-euro ($438 million) credit line for affected industries.

The announcements amount to a second round of measures in two countries which were already at the vanguard among European governments seeking to mitigate the impact on consumers and businesses. Earlier ...