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MNI BRIEF: German Energy Aid Prompts EU Disquiet

(MNI) Brussels

France says the single market must be protected after Germany's announcement of EUR200 billion in aid for companies and households.

French Finance Minister Bruno Le Maire has called for a joint European strategy in response to surging energy prices following Germany’s announcement of EUR200 billion in support for companies and consumers.
Le Maire told reporters that national energy packages should be coordinated among EU states in order to avoid fragmentation of the single market.
German Finance Minister Christian Lindner defended the German measures, insisting that his Comprehensive Protection Shield was “proportionate” and was not designed to stimulate demand but to protect the economy.
Irish Finance Minister and Eurogroup Chair Paschal Donohoe also called for coordination of economic policies in response to the energy crisis.
The comments came ahead of today’s Eurogroup meeting at which European Central Bank President Christine Lagarde and European Commission officials are expected to argue for more temporary and targeted fiscal measures rather than the broad-based policies that many states have adopted to date. (See MNI: Inflation Strengthens Hawks' Resolve In EU Debt Talks)
Economy Commissioner Paolo Gentiloni said EU policy coordination was key to reassuring financial markets in light of recent market volatility seen in the UK.

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French Finance Minister Bruno Le Maire has called for a joint European strategy in response to surging energy prices following Germany’s announcement of EUR200 billion in support for companies and consumers.
Le Maire told reporters that national energy packages should be coordinated among EU states in order to avoid fragmentation of the single market.
German Finance Minister Christian Lindner defended the German measures, insisting that his Comprehensive Protection Shield was “proportionate” and was not designed to stimulate demand but to protect the economy.
Irish Finance Minister and Eurogroup Chair Paschal Donohoe also called for coordination of economic policies in response to the energy crisis.
The comments came ahead of today’s Eurogroup meeting at which European Central Bank President Christine Lagarde and European Commission officials are expected to argue for more temporary and targeted fiscal measures rather than the broad-based policies that many states have adopted to date. (See MNI: Inflation Strengthens Hawks' Resolve In EU Debt Talks)
Economy Commissioner Paolo Gentiloni said EU policy coordination was key to reassuring financial markets in light of recent market volatility seen in the UK.