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Germany to emerge from crisis stronger with new trade, energy policies - Scholz

24 Tháng Mười Một 2022
Germany to emerge from crisis stronger with new trade, energy policies - Scholz © Reuters. German Chancellor Olaf Scholz speaks during budget debate in the plenary hall of German lower house of parliament, or Bundestag, in Berlin, Germany November 23, 2022. REUTERS/Christian Mang

BERLIN (Reuters) - Germany is strong enough to weather the crisis caused by Russia's invasion of Ukraine and emerge stronger from it thanks a new approach to energy, defence and trade policy in Europe's biggest economy, Chancellor Olaf Scholz said on Wednesday.

"We are doing away with the failings of an energy and trade policy that has led us into one-sided dependence on Russia and China, in particular," Scholz told the Bundestag lower house of parliament, adding carrying on as before was not an option.

"Germany has the strength to master the crisis and emerge stronger from it," the Social Democrat chancellor said, adding his government would do more than stick to the status quo.

Since Moscow's invasion of Ukraine, Germans have faced soaring energy prices due to disruption to supplies from Russia.

The government will not be able to completely stop a surge in energy prices through subsidies but can reduce them to a bearable level, Scholz said.

Caps on electricity and gas prices to be introduced by Berlin next year will bring energy costs to a level experts did not expect to see before 2024, he added.

"Then we will have more liquefied gas terminals on the grid, and the accelerated expansion of renewable energies will also have an even greater impact," Scholz said.

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08-12-2022 09:14:37 (UTC+7)

EUR/USD

1.0505

0.0000 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

EUR/USD

1.0505

0.0000 (0.00%)

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↑ Buy

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Buy (10)

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Buy (9)

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GBP/USD

1.2189

-0.0010 (-0.08%)

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Neutral

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USD/JPY

136.82

+0.21 (+0.16%)

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Neutral

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AUD/USD

0.6711

-0.0010 (-0.15%)

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USD/CAD

1.3675

+0.0024 (+0.17%)

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EUR/JPY

143.73

+0.23 (+0.16%)

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EUR/CHF

0.9894

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Gold Futures

1,795.15

-2.85 (-0.16%)

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Silver Futures

22.782

-0.140 (-0.61%)

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Copper Futures

3.8425

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72.62

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Brent Oil Futures

77.72

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Natural Gas Futures

5.899

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US Coffee C Futures

160.00

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Euro Stoxx 50

3,920.90

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S&P 500

3,933.92

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DAX

14,261.19

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FTSE 100

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Hang Seng

19,149.50

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US Small Cap 2000

1,807.83

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IBEX 35

8,290.50

-29.10 (0.00%)

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BASF SE NA O.N.

47.425

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Bayer AG NA

52.80

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Allianz SE VNA O.N.

203.65

+0.25 (+0.12%)

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Adidas AG

117.56

-1.50 (-1.26%)

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7.639

-0.081 (-1.05%)

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Siemens AG Class N

132.90

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9.966

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 EUR/USD1.0505↑ Buy
 GBP/USD1.2189Neutral
 USD/JPY136.82Neutral
 AUD/USD0.6711↑ Buy
 USD/CAD1.3675Neutral
 EUR/JPY143.73↑ Buy
 EUR/CHF0.9894↑ Buy
 Gold1,795.15Buy
 Silver22.782↑ Buy
 Copper3.8425↑ Buy
 Crude Oil WTI72.62↑ Buy
 Brent Oil77.72↑ Buy
 Natural Gas5.899Neutral
 US Coffee C160.00Neutral
 Euro Stoxx 503,920.90↑ Sell
 S&P 5003,933.92↑ Buy
 DAX14,261.19↑ Sell
 FTSE 1007,489.19↑ Sell
 Hang Seng19,149.50↑ Buy
 Small Cap 20001,807.83↑ Buy
 IBEX 358,290.50↑ Sell
 BASF47.425↑ Sell
 Bayer52.80↑ Sell
 Allianz203.65↑ Sell
 Adidas117.56↑ Sell
 Lufthansa7.639↑ Buy
 Siemens AG132.90↑ Sell
 Deutsche Bank AG9.966↑ Sell
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