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Free AccessBundestag Approves EUR200bn Energy Relief Plan
Following a vote earlier this morning to suspend the constitutional debt brake, Bundestag members have voted to approve the massive EUR200bn energy relief plan put forwards by the gov't of Chancellor Olaf Scholz.
- DW reports that, "...the fund is set to last until 2024 and will finance energy price caps and subsidies. Private households could benefit from a price cap of 80% of their usual consumption starting March.The price cap for big companies could come into effect as soon as January."
- The significant package of relief has caused consternation in other EU member states that are unable to put together such substantial support schemes. The sizeable relief afforded to big businesses in the form of a price cap has led to accusations that the scheme counts as state aid and will make other industries in other EU states uncompetitive.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.