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Uniper Could Need Even Bigger German Bailout: Energy Update

Bloomberg business news
WATCH: Gas prices surged more than 30% Monday as Europe races to respond to the deepening energy crisis. Will Kennedy reports.Source: Bloomberg
Updated on

European governments are racing to stave off an energy catastrophe this winter that’s threatening to dwarf the billions of euros of relief on offer for consumers and businesses.

Gas prices surged more than 35% on Monday as traders reacted to Russia’s decision to keep its main gas pipeline shut indefinitely. The euro slid to its lowest in two decades and equities fell. Policy makers are now grappling with how to curb demand dramatically, and also prevent wild market swings spilling into broader financial disruption.