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MNI: US March Existing Home Sales Fell 4.3% To 4.19M
MNI: German Opposition To Gas Price Cap Under Fire-Officials
Germany will come under pressure at today’s Prague summit from other European Union states angered by its EUR200 billion energy package to soften its opposition to the bloc’s proposed gas import price cap, EU officials said.
Irish Prime Minister Micheal Martin told reporters that in talks so far there was a “general view that there should be a more cooperative or collective approach” on the part of EU states, Germany included, to tackling the rise in gas prices.
Slovak Prime Minister Eduard Heger said it was “too early” to talk about a new NextGenerationEU-style package, adding that “hopefully it will not be necessary”. National budgets and a windfall tax on energy companies ought to be the first means of funding energy subsidies, he said. (See MNI: Inflation Strengthens Hawks' Resolve In EU Debt Talks)
It would be “surprising” if the German budget did not come up in talks, an EU official said, as “it’s inherently part of the discussion and aid schemes and price caps.”
Today’s talks are aimed at “identifying convergence” another EU official said. Leaders are expected to return to the energy issue at another summit later this month.
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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.