Free Trial

MNI BRIEF: German Energy Aid Prompts EU Disquiet

(MNI) Brussels

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.

MNI Brussels Bureau |
MNI Brussels Bureau |

To read the full story



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.