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Scholz Defends Massive Borrowing Plan to Tackle Energy Crisis

Bloomberg business news
EU Can't Agree on Gas Price-Cap Plan

German Chancellor Olaf Scholz pushed back against criticism that his government’s plan to borrow as much as 200 billion euros to tackle the energy crisis could put other European Union members at an economic disadvantage.

Some of Scholz’s EU counterparts have said the plan aimed at shielding consumers and businesses from gas price spikes threatens solidarity in the bloc, risks distorting energy markets and may disrupt cross-border flows of power and natural gas.