Germany unveils €65 billion package to subsidize energy prices

[forex4you]

Germany unveils €65 billion package to subsidize energy prices

<p>Germany's coalition parties agreed to a €65 billion package to shied consumers and businesses from energy price hikes on Sunday. The package will be paid for via an energy windfall tax and bringing forward a planned 15% global minimum corporate tax.</p><p>Energy prices are likely to spike further on Monday after Gazprom announced that Nord Stream 1 would stay shut after maintenance.</p><p>The costs of the package could rise with energy prices. So far the government has spent €95 billion on subsidies since the e war began in contrast to about €300 billion during the pandemic.</p><p>In other German news that could impact markets, the Green party announced it will stop opposing nuclear power. That should clear the way for an extension of Germany's three remaining plants.</p>

This article was written by Adam Button at www.forexlive.com.

Source: Germany unveils €65 billion package to subsidize energy prices

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