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Scholz To Deliver Presser On Energy Policy, Uniper @ 1200CET

GERMANY

Trent Murray at Feature Story tweets: "The Chancellor will address the media at 12CET [0600ET, 1100BST] on ‘Energy Policy - expect news on multibillion dollar bailout of Uniper - the nation’s biggest gas firm which is on brink of collapse. The German Government had said if Uniper collapses, it could create a ‘Lehman Brothers’ moment for Europe. The economic impact of war in Ukraine spilling over across the continent."

  • Germany's energy woes causing significant concern not just domestically, but around Europe at present. Yesterday, Foreign Minister Annalena Baerbock was forced to walk back comments suggesting that if Canada had not sent a gas turbine for Nord Stream 1 back to Germany it would risk Berlin's support for Ukraine.
  • Baerbock stated that “If we don’t get the gas turbine, then we won’t get any more gas, and then we won’t be able to provide any support for Ukraine at all, because then we’ll be busy with popular uprisings.” The Foreign Ministry stated that the words were taken out of context, but given the strong messaging from Baerbock and Econ Min Robert Habeck during the Ukraine crisis so far the comment was nevertheless viewed as telling.
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Trent Murray at Feature Story tweets: "The Chancellor will address the media at 12CET [0600ET, 1100BST] on ‘Energy Policy - expect news on multibillion dollar bailout of Uniper - the nation’s biggest gas firm which is on brink of collapse. The German Government had said if Uniper collapses, it could create a ‘Lehman Brothers’ moment for Europe. The economic impact of war in Ukraine spilling over across the continent."

  • Germany's energy woes causing significant concern not just domestically, but around Europe at present. Yesterday, Foreign Minister Annalena Baerbock was forced to walk back comments suggesting that if Canada had not sent a gas turbine for Nord Stream 1 back to Germany it would risk Berlin's support for Ukraine.
  • Baerbock stated that “If we don’t get the gas turbine, then we won’t get any more gas, and then we won’t be able to provide any support for Ukraine at all, because then we’ll be busy with popular uprisings.” The Foreign Ministry stated that the words were taken out of context, but given the strong messaging from Baerbock and Econ Min Robert Habeck during the Ukraine crisis so far the comment was nevertheless viewed as telling.