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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.
GERMANY
Wires carrying comments from a German Economy Ministry spokesman stating that there is "No consistency from Russia on gas", and that the gov't is "...focusing on the facts and taking measures to prepare for all scenarios".
- Spox says gov't believes ..."that Siemens understands importance of Nord Stream 1 turbine and will bring it back into operation as soon as possible." Says that there are no talks "currently on further turbines".
- Earlier today, Foreign Minister Annalena Baerbock ruled out lifting sanctions on Russia in exchange for gas supplies, saying that it would leave Germany "would be doubly subject to blackmail."
- Recent opinion poll from ZDF showed an overwhelming proportion of respondents in favour of maintaining sanctions on Russia even if it results in higher energy prices. Overall, 70% of respondents favoured keeping measures against Russia in place, with 22% wanting to ease sanctions if it could result in lower costs.
- There is also a clear party split, with Green supporters overwhelmingly in favour of continuing support (95%). Supporters of the SPD (83%), CDU (76%) and FDP (69%) were also largely in favour. The only parties with under 50% of their supporters advocating for Ukraine over low energy prices were the far-left Die Linke (45% in favour) and far-right Alternative for Germany (just 14% in favour of supporting Ukraine if it means high energy prices).
Chart 1. Opinion Poll: "Should we continue to support Ukraine, even if that means high energy prices here?", Total and by Party (saying 'Yes)
Source: ZDF. Fieldwork 12-14 July, 1,167 respondents.
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.
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