The German government announced plans to borrow €200 billion to cap natural gas prices for households and businesses. That’s a bigger price tag than the £150 billion the UK government is expected to borrow to finance its own price cap. Germany, Europe’s biggest economy, is trying to cope with surging gas and electricity costs caused largely by a collapse in Russian gas supplies to Europe.
“We can put it no other way: We find ourselves in an energy war,” said Lindner. “We want to clearly separate crisis expenditure from our regular budget management. We want to send a very clear signal to the capital markets.” Record inflation Lindner also said the steps would act as a brake on inflation, which has hit its highest level in more than a quarter century. Consumer prices rose 10.9% in the year through September, provisional data from the country’s statistics office showed on Thursday.
Price caps definitely work.
Why US doesn't lift oil sanctions from Iran, Venezuela ? It will help to fulfill demand or Morals don't apply to US?
😅
From whom USA?
This is big deal 🤝
Huge