A German panel is proposing a two-stage plan for distributing up to €200 billion in subsidies. The plan aims to help ease the strain of high energy prices.
A German panel is proposing a two-stage plan for distributing up to €200 billion in subsidies.Many European countries have proposed similar subsidies on fossil fuels.
Grimm argued that the plan still incentivizes people to save gas, because people who do so will avoid paying higher prices beyond the cap level. She also noted that Germany, which has Europe's biggest economy, needs to reduce its previous gas consumption by about 20% to prevent a potential shortage this winter, which will never happen voluntarily and will required forced rationing throughout the winter, i.e., rolling blackouts.
“This is not just about the fate of individual companies and their jobs; it is about the strength and the export successes of German industry, because they are the backbone of the German economy,” he said. In fact, the reason why today German bund yields exploded higher is because Bloomberg reported that Germany had conceded to peer pressure and agreed to joint and mutual bond issuance in Europe, in effect federalizing the continent at Germany's expense. It took Germans about two hours to fully reverse and argue that was never planned once they saw the bloodbath across the German bond sector.
Danmark Seneste Nyt, Danmark Overskrifter
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German Panel Outlines Plan To Distribute €200 Billion In Subsidies | OilPrice.comA German panel is proposing a two-stage plan for distributing up to €200 billion in subsidies. The plan aims to help ease the strain of high energy prices.
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