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MNI BRIEF: Germany Tries To Calm Storm Over EUR200Bln Aid Plan

Germany's EUR200 billion package to help the economy cope with high energy prices has caused tension within the EU.

German Chancellor Olaf Scholz will use this week’s meeting of European leaders to try to defuse tensions over his EUR200 billion fiscal programme to protect consumers and businesses, which has prompted calls from other countries for EU-level funding to help states with less fiscal capacity, European officials told MNI.

German officials are already pointing out that the two-year plan will draw on Germany’s allocation of funds under the NextGenerationEU programme and that the EUR200 billion headline number represents only its maximum ceiling.

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German Chancellor Olaf Scholz will use this week’s meeting of European leaders to try to defuse tensions over his EUR200 billion fiscal programme to protect consumers and businesses, which has prompted calls from other countries for EU-level funding to help states with less fiscal capacity, European officials told MNI.

German officials are already pointing out that the two-year plan will draw on Germany’s allocation of funds under the NextGenerationEU programme and that the EUR200 billion headline number represents only its maximum ceiling.

Keep reading...Show less